11. April 2021
Mutually Exclusive Agreement
Logically, two mutually exclusive phrases are sentences that, logically, cannot be true in the same sense. To say that more than two sentences are mutually exclusive, depending on the context, means that one cannot be true if the other is true, or at least one of them cannot be true. Mutual exclusion always means that two of them cannot be true at the same time. When a company is faced with a choice between mutually exclusive options, it must consider opportunity costs, which the company would abandon to pursue each option. The notions of opportunity cost and reciprocal exclusivity are intrinsically linked, because any mutually exclusive option requires the sacrifice of all the gains that could have been achieved by choosing the alternative option. Mutual exclusion is a statistical term that describes two or more events that cannot occur simultaneously. It is often used to describe a situation where the appearance of one result replaces the other. It`s important to know the difference between exclusive and non-exclusive partnerships so that you choose the right deal for your business. The concept of mutual exclusivity is often used in capital budgeting. Companies may have to choose between several projects that add value to the company after completion.
Some of these projects are mutually exclusive. In logic and probability theory, two events (or phrases) exclude each other or are inconsistent if they cannot occur at the same time. A clear example is the series of results in a single piece that can lead to heads or tails, but not both. The difference between the exclusive and non-exclusive agreement refers to how suppliers and partners work together. Read 3 min In a standard deck of 52 cards with two colors, for example, it is impossible to draw a card that is both red and club, because the clubs are always black. If only one card is removed from the deck, a red card (heart or diamond) or a black card (club or spat) is drawn. If A and B are mutually exclusive, P (A ∪ B) – P (A) – P (B) are mutually exclusive.  For example, to determine the probability of shooting a red card or bat, add the probability of shooting a red card and the probability of drawing a bat.