The Probability That House Sales Will Increase in the Next

question 96

Multiple Choice

The probability that house sales will increase in the next 6 months is estimated to be 0.25.The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74.The probability that house sales or interest rates will go up during the next 6 months is estimated to be 0.89.The probability that both house sales and interest rates will increase during the next 6 months is:

• A)0.10
• B)0.185
• C)0.705
• D)0.90

---

Definitions:

Sugar Shortage

A situation in which the availability of sugar is significantly less than the consumer demand, often leading to increased prices and supply constraints.

Sell

The act of transferring ownership of a product or service to another individual or entity in exchange for money or other compensation.

Subjective Standard

involves a criterion for decision-making that is based on personal opinions, feelings, or perspectives, as opposed to objective, universally measurable standards.

Satisfaction

Fulfillment of an obligation or claim, often referring to the payment of a debt or completion of a contractual performance.