47. A financial manager made two new investments—one in the oil industry and one in municipal bonds. After a one-year period, each of the investments will be classified as either successful or unsuccessful. Consider the making of the two investments as an experiment.

a. How many sample points exist for this experiment?

b. Show a tree diagram and list the sample points.

c. Let O  the event that the oil industry investment is successful and M  the event that the municipal bond investment is successful. List the sample points in O and in M.

d. List the sample points in the union of the events (O  M).

e. List the sample points in the intersection of the events (O  M).

f. Are events O and M mutually exclusive? Explain.