If P(A)=0.7, P(B)=0.6, and the maximum possible value of P(A∩B) is 0.6, then the minimum possible value of P(A∪B) is: MCQ with Answer and Explanation

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If P(A)=0.7, P(B)=0.6, and the maximum possible value of P(A∩B) is 0.6, then the minimum possible value of P(A∪B) is:

A. 0.7

B. 0.8

C. 1.0

D. 0.6

Answer: Option A

Solution (By JKSSB Mock Tests)

P(A∪B) = P(A)+P(B)-P(A∩B). To minimize union, maximize intersection: max=0.6. So min union = 0.7+0.6-0.6=0.7.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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For a moderately asymmetrical distribution, the empirical relationship between Mean, Median, and Mode is:

A. Mean = 3 Median - 2 Mode

B. Mode = 2 Median - 3 Mean

C. Mode = 3 Median - 2 Mean

D. Median = 3 Mean - 2 Mode

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Correct Answer: Option C

Explanation:
Karl Pearson's empirical relationship holds for moderately skewed distributions: Mode = 3(Median) - 2(Mean).

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Question #2

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Given P(A)=0.4, P(B)=0.5, and A and B are mutually exclusive, P(A∪B) is:

A. 0.7

B. 0.2

C. 0.9

D. 0.1

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Correct Answer: Option C

Explanation:
Mutually exclusive ⇒ P(A∪B) = P(A)+P(B) = 0.4+0.5=0.9.

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Question #3

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The Consumer Price Index for Industrial Workers (CPI-IW) is compiled by:

A. Reserve Bank of India

B. NSSO

C. Labour Bureau, Shimla

D. Central Statistics Office

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Correct Answer: Option C

Explanation:
The Labour Bureau compiles CPI-IW, a key measure of retail inflation for industrial workers.

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