The Probability That House Sales Will Increase in the Next

question 19

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 "increase in interest rates" in the next 6 months are

• A)collectively exhaustive.
• B)mutually exclusive.
• C)statistically independent.
• D)None of the above.

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Definitions:

Geographical Areas

Regions or zones defined by specific geographical boundaries or characteristics, which can be used for various administrative, commercial, or statistical purposes.

Channel Member

An entity involved in the distribution process of products, from manufacturers to the final consumers, including wholesalers, retailers, and distributors.

Sherman Act

An 1890 United States antitrust law that regulates competition among enterprises, aiming to prevent anti-competitive practices.

Rule Of Reason

A legal doctrine used in antitrust law that evaluates the pro-competitive and anti-competitive effects of business practices to determine their legality.