The Probability That House Sales Will Increase in the Next

question 60

Multiple Choice

The probability that house sales will increase in the next 6 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 6 months is estimated to be 0.89.The events of "increase in house sales" and "no increase in house sales" in the next 6 months are

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

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Definitions:

Discrepancy

is a lack of consistency or agreement between two or more facts, figures, or perspectives.

Desired State

The preferred condition or situation a person or organization aims to achieve in the future.

Better Value

Offers products or services that are perceived to offer superior benefits relative to their cost.

Extended Problem Solving

A purchase decision process during which the consumer devotes considerable time and effort to analyzing alternatives; often occurs when the consumer perceives that the purchase decision entails a lot of risk.