I Choose a Card at Random from a Well-Shuffled Deck

question 44

Multiple Choice

I choose a card at random from a well-shuffled deck of 52 cards. There is a 1/4 probability that the card chosen is a spade, a 1/4 probability that the card is a heart, a 1/4 probability that the card is a diamond, and a 1/4 probability that the card is a club. Both spades and clubs are black cards, whereas hearts and diamonds are red. The events card is a heart and card is a club are:

• A)disjoint events.
• B)impossible events.
• C)independent events.
• D)None of the answer options is correct.

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Definitions:

Nonprice Factors

Aspects of a product or service that affect consumer choice other than price, such as quality, brand reputation, or convenience.

Oligopolistic Competition

An economic system where a few large corporations control the market, resulting in restricted competition.

Price Competition

A market situation in which competitors attempt to outdo each other on price, as opposed to features, benefits, or services.

Pure Monopoly

A market structure where a single company or entity exclusively supplies a product or service, facing no competition.