If a and B Are Independent Events with P(A)= 0

question 124

Multiple Choice

If A and B are independent events with P(A) = 0.25 and P(B) = 0.60,then P(A/B) is:

• A) 0.25.
• B) 0.60.
• C) 0.35.
• D) 0.85.
• E) 0.15

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Definitions:

Lump-Sum Payment

A single payment made at a particular time, as opposed to multiple payments over time.

Natural Monopoly

A market condition where a single firm can supply a product or service to an entire market at a lower cost than what two or more firms can, often due to significant fixed or startup costs.

Competitive Level

Refers to the state of competition within a market where firms strive to gain an advantage over each other.

Marginal Cost

The added cost of producing one additional unit of a product.