The Probability That House Sales Will Increase in the Next

question 17

Multiple Choice

The probability that house sales will increase in the next six months is estimated to be 0.25.The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74.The probability that house sales or interest rates will go up during the next six months is estimated to be 0.89.
- The events of 'increase in house sales' and 'no increase in house sales' in the next six months are

• A) statistically independent.
• B) collectively exhaustive.
• C) mutually exclusive.
• D) Both B and C.

---

Definitions:

Group Dynamics

The study of the behaviors and psychological processes occurring within a social group, or the effects the group has on individual behavior.

In-Groups

Social groups to which an individual feels they belong, where members often share similar interests or identities.

Out-Groups

Groups to which individuals do not belong and may feel opposition or hostility towards, in contrast to in-groups with which they identify.

Attribution Theory

A psychological theory that explains how individuals infer the causes of their own and others' behaviors and events.