Bivariate probabilities have broad applications in business and economics because they provide information that involves two distinct sets of events.

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Bivariate probabilities involve the probability of two distinct events and can be used to model and analyze a wide range of phenomena in business and economics. For example, they can be used to analyze the relationship between two different variables, such as the price of a good and its demand, or the performance of two different stocks in a portfolio.

Bivariate Probabilities Have Broad Applications in Business and Economics Because