Two Events a and B in a Sample Space Are

question 25

Multiple Choice

Two events A and B in a sample space are considered _____ if the probability that A will happen is the same regardless of whether or not B has happened.

• A)conditional
• B)correlated
• C)independent
• D)exclusive

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Definitions:

Angora Goat

A breed of goat known for its soft, long wool called mohair, originally from Ankara, Turkey.

Public Good

A product that one individual can consume without reducing its availability to another individual, and from which no one is excluded, such as national defense or public parks.

Public Good

A good that is non-excludable and non-rivalrous, meaning that its use by one individual does not reduce its availability to others and people cannot be prevented from using it.

Marginal Cost

The increase in total production costs resulting from producing one additional unit of a good or service.