Given a Set of Outcomes That Are Mutually Exclusive and Exhaustive,the

question 2

True/False

Given a set of outcomes that are mutually exclusive and exhaustive,the sum of the probabilities of the outcomes will always equal 1.00.

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Definitions:

Intermediary

An entity or person that acts as a middleman or agent between two parties in a transaction or process to facilitate the transaction.

Broker

A person or firm that arranges transactions between a buyer and a seller for a commission when the deal is executed.

Agent

An individual or entity authorized to act on behalf of another, in business or legal matters.

Efficiency

The ability to accomplish a job with a minimum expenditure of time and resources.