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The events in an experiment are mutually exclusive if only one can occur at a time true or false?
provide one business-related example each, with explanation, for mutually exclusive and independent events
What does 'not mutually exclusive of one another' mean?
If two events ARE mutually exclusive, then it means that they can not both happen simultaneously. For example, if we flip a coin, it can only be heads or tails, not both. an example of not mutually exclusive events are strong winds and rain. it could be strong wind, or rain, or both.
What is potentially inclusive events?
It is the opposite of mutually exclusive. Potentially inclusive are events that can happen at the same time, as mutually exclusive events can't.
What function do you use to calculate the probabilities of compound events?
To calculate the probabilities of compound events, you can use the multiplication rule or the addition rule, depending on whether the events are independent or mutually exclusive. The multiplication rule is used when the events are independent, and you multiply the probabilities of the individual events. The addition rule is used when the events are mutually exclusive, and you add the probabilities of the individual events.
What is potentially inclusive?
Potentially inclusive events are events that can happen simultaneously. For example, events A and B can occur at the same time. When these events do cannot occur simultaneously, then then are called Mutually exclusive (opposite). Potentially Inclusive: If A is heads of Coin 1 and B is heads of Coin 2, then tossing of both the coins is potentially inclusive since you can get heads on both the coins same time. Mutually exclusive: If A is heads and B is tails , then tossing of a coin is mutually exclusive since you cannot get heads and tails at the same time. You either get heads or tails.
