The General Law of Addition for Probabilities Says P(A or B)

question 89

True/False

The general law of addition for probabilities says P(A or B) = P(A) + P(B) - P(A∩B).

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Definitions:

Procurement Aggregation

The combining of procurement requirements for several departments or divisions of a business to secure better terms and prices from suppliers.

Economies of Scale

Cost advantages that a business achieves due to expansion, which typically results in lower per-unit costs.

Transaction Cost

Expenses incurred during the process of buying or selling goods and services, beyond the price of the products.

Design Collaboration

The process where multiple stakeholders (e.g., engineers, designers, and clients) work together in the planning and design phase of a project to ensure optimal outcomes.