If Two Events Are Independent, Then

question 10

Multiple Choice

If two events are independent, then

• A)they must be mutually exclusive
• B)the sum of their probabilities must be equal to one
• C)their intersection must be zero
• D)None of these alternatives is correct.

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Definitions:

Industry

A sector of the economy that includes all businesses involved in the production or processing of goods, provision of services, or related activities.

Market System

In this economic structure, supply and demand forces directly influence decisions around investment, production capacity, and distribution methods, with the price points of goods and services being freely determined in a competitive price system.

Expanding Industry

An industry or sector experiencing significant growth in terms of output, sales, or number of participants.

Resource Prices

The costs associated with acquiring raw materials or inputs used in the production of goods and services.