If P(A/B) = P(A), or P(B/A) = P(B), Which of the Following

question 23

Multiple Choice

If P(A/B) = P(A) , or P(B/A) = P(B) , which of the following best describes the events A and B?

• A) They are mutually exclusive.
• B) They are disjoint.
• C) They are independent.
• D) They are dependent.

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Definitions:

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to monitor inflation.

Consumer Price Index

A benchmark that evaluates the mean change through time in the outlay by urban consumers for a chosen collection of consumer items and services.

Standard of Living

The level of wealth, comfort, material goods, and necessities available to a person or community.

Inflation Rate

The progression speed at which the cost of general goods and services increases, diminishing buying power over time.