A Student Is Randomly Selected from a Class

question 120

Multiple Choice

A student is randomly selected from a class.Event A = the student is a male and Event B = the student is a female.Events A and B are:

• A) mutually exclusive.
• B) exhaustive.
• C) intersecting.
• D) dependent.
• E) both A and B.

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Definitions:

Oligopolist

A company operating within an oligopoly market structure, where a small number of firms have a large majority of market share and can influence prices and competition.

Non-price Competition

A strategy by businesses to attract customers through methods other than lowering prices, such as quality improvement, marketing, or product differentiation.

Herfindahl-Hirschman Index

A measure of market concentration used to determine the level of competition within an industry.

Market Share

The portion of a market controlled by a particular company or product.