If a and B Are Independent Events,P(A)= $P ( A \cup B )$

question 100

Multiple Choice

If A and B are independent events,P(A) = .2,and P(B) = .7,determine $P ( A \cup B )$
)

• A)0.90
• B)0.14
• C)0.76
• D)0.50
• E)0.24

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Definitions:

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, showcasing the degree of inequality.

45-Degree Line

In economics, often used in Keynesian cross diagrams to show points where aggregate output (or income) equals aggregate expenditure, indicating equilibrium.

Gini Coefficient

A measure of the inequality of a distribution, often used to measure income inequality, ranging from 0 (perfect equality) to 1 (perfect inequality).

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, showing the proportion of total income earned by any given percentage of the population.