THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 178

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The joint probabilities shown in a table with two rows,A₁ and A₂,and two columns,B₁ and B₂ are as follows: P(A₁ ∩ B₁) = 0.10,P(A₁ ∩ B₂) = 0.30,P(A₂ ∩ B₁) = 0.05,P(A₂ ∩ B₂) = 0.55
-What is P(B₁) ?

• A)0.40
• B)0.60
• C)0.15
• D)0.85

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Definitions:

Written Agreement

A legally binding contract that has been documented in writing between two or more parties.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and proportions of ownership among partners in a partnership.

Risks

The potential for losing something of value, or the exposure to danger, harm, or loss.

Articles of Partnership

A document that formalizes an agreement between partners to manage and operate a business together and share its profits.