If a and B Are Independent Events with P(A) = $\cap$

question 26

Multiple Choice

If A and B are independent events with P(A) = 0.65 and P(A $\cap$ B) = 0.26, then, P(B) =

• A)0.400
• B)0.169
• C)0.390
• D)0.650

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Definitions:

Value-Added Cost

Costs that contribute to increasing the value of a product or service from the perspective of the customer, such as improvements in quality or features.

Theory of Constraints

A management philosophy focusing on identifying and managing the most significant limiting factor (constraint) that stands in the way of achieving a goal.

Bottlenecks

Points of congestion in a system where the actual or potential capacity is less than the demand, leading to delays or slowdowns.

Target Costing

A pricing strategy where the selling price of a product is determined first, and then the manufacturing cost is managed to ensure profitability.