Explain what is meant by the term mutually exclusive events. Cite an example
What will be an ideal response?
Mutually exclusive events exist if the occurrence of one event precludes the occurrence of another event. For example, if a customer is selected at random for a store's master file, if the customer is a female, the same customer cannot also be a male. Thus the events female and male are mutually exclusive.
Business
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A ________ is an arrangement in which two or more business entities combine their resources to pursue a single project or transaction
A) limited partnership B) license agreement C) joint venture D) franchise
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