The Conditional Probability of a Given B

question 136

Multiple Choice

The conditional probability of A given B:

• A)will always be less than the simple probability of A.
• B)will always be greater than the simple probability of A.
• C)will always be equal to or less than the simple probability of A.
• D)will always be 0 if A and B are mutually exclusive.
• E)will always be equal to the simple probability of B.

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Definitions:

Intermediate Good

Goods that are used in the production process to produce final goods or services.

Average Costs

The total costs divided by the quantity produced or consumed, indicating the cost per unit.

Transfer Prices

The prices at which services, goods, or capital are exchanged between departments or divisions within the same company or between subsidiaries.

Intermediate Products

Goods that are used as inputs in the production of other goods, not intended for final consumption.