BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If events A and B cannot occur at the same time, they are called mutually exclusive.
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P(A) + P(B) = 1 for any events A and B that are mutually exclusive.
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None of these are correct.
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If either event A or event B must occur, they are called mutually exclusive.
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Detailed explanation-1: -Mutually exclusive events: Two events are said to be mutually exclusive if they cannot happen at the same time. So, we can say that the occurrence of one event prevents the occurrence of the other. ∴ Statement 1 is correct.
Detailed explanation-2: -if two events A and B cannot occur at the same time, then they are called mutually exclusive events or disjoint events. For example, while tossing a fair coin, we get either head or tail but not both at the same time.
Detailed explanation-3: -When events A and B are not mutually exclusive, you cannot just add the probabilities. In this case adding gives a value that is too high because the Ace of Hearts is included twice. Independent means that A has no effect on B and vice versa.
Detailed explanation-4: -Mutually exclusive events will have a probability of zero. All inclusive events will have a zero opposite the intersection. All inclusive means that there is nothing outside of those two events: P(A or B) = 1.