Examlex

Solved

If a Set of Events Is Exhaustive and Mutually Exclusive

question 122

Short Answer

If a set of events is exhaustive and mutually exclusive, then the sum of the probability of occurrence of each event in the set equals one. Is this true? Illustrate your answer by giving an example.


Definitions:

Throughput Time

The total time taken from the start to the finish of a production process or operation, including both processing time and any periods of inactivity.

Quality

The standard of something as measured against other similar things; a degree or level of excellence.

Business Processes

A set of linked activities or tasks that, once completed, will accomplish an organizational goal.

Functional Departments

Different segments within a company specialized in certain operations or responsibilities such as finance, marketing, or R&D.

Related Questions