Which of the Following Events Are NOT Independent

question 7

Multiple Choice

Which of the following events are NOT independent?

• A) 'the telephone will be answered by a woman' and ' the person answering the phone will have blue eyes'
• B) 'it will rain today' and 'we will sell more raincoats'
• C) 'the next car to arrive will be green' and 'the next car to arrive will have 2 occupants'
• D) 'a particular supplier puts up their prices' and 'a particular customer will pay their bill on time'

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Definitions:

Price Elasticity

A measure of the responsiveness of demand or supply for a good or service to changes in its price, indicating how quantity demanded or supplied shifts when prices move.

Linear Demand Curve

A graphical representation showing a straight-line relationship between product price and the quantity of the product demanded.

High Prices

The situation where goods or services are offered at elevated prices, often due to high demand, low supply, or premium quality.

Price Elasticity

A measure of how much the quantity demanded of a good changes in response to a change in the price of that good.