If a and B Are Any Two Events with P(A)

question 49

Multiple Choice

If A and B are any two events with P(A) = .8 and P(B|A) = .4, then the joint probability of A and B is:

• A) .80
• B) .40
• C) .32
• D) 1.20

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Definitions:

Merchandise Inventory

The inventory of products that a retailer plans to sell to customers, accounting for a critical component of its current assets.

Income Summary Account

An account used during the closing process in accounting that summarizes the revenues and expenses of a period to calculate the net income or loss.

Net Income

The net income of a company once all costs and taxes are deducted from the overall revenue.

Capital Account

A capital account tracks the net value of a company's assets contributed by its owners and investors plus retained earnings or minus any distributions to owners.