In an Experiment, Events a and B Are Mutually Exclusive

question 51

Multiple Choice

In an experiment, events A and B are mutually exclusive. If P(A) = 0.6, then the probability of B

• A) cannot be larger than 0.4.
• B) can be any value greater than 0.6.
• C) can be any value between 0 to 1.
• D) cannot be determined with the information given.

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Definitions:

Coinsurance

A type of insurance in which the insured and the insurer share the costs of covered expenses in a specified ratio after the deductible is met.

Property Insurance

A type of insurance policy that provides financial reimbursement to the owner or renter of a structure and its contents in case of damage or theft.

Sharing Risk

The practice of distributing risks among different parties, often used in insurance and investments to reduce the impact of adverse events on any single party.

Basic Principles

Fundamental theories or beliefs that form the foundation for a system of belief or behavior or for a chain of reasoning.