What does collectively exhaustive mean?
Understand the Problem
The question is asking for the definition and explanation of the term 'collectively exhaustive', which is a concept often used in probability and statistics to describe a situation where all possible outcomes of an event are accounted for.
Answer
A set of events encompassing all possible outcomes, ensuring at least one must occur.
Collectively exhaustive events are a set of events that encompass all possible outcomes in a sample space, ensuring that at least one event must occur.
Answer for screen readers
Collectively exhaustive events are a set of events that encompass all possible outcomes in a sample space, ensuring that at least one event must occur.
More Information
In probability, collectively exhaustive events ensure that the probability of at least one event occurring is 100%.
Sources
- Collectively Exhaustive: Simple Definition, Examples - statisticshowto.com
- Collectively Exhaustive Events: Definition & Example - Statology - statology.org
- What is the MECE Principle? Understanding Mutually Exclusive ... - strategyu.co
Thank you for voting!
