It’s one of those phrases I just kinda nod my head and go “yeah” when I hear it. I’ve looked it up before, but the definition never stuck. Same thing happened with “survivorship bias,” but I eventually figured that one out.
I guess I need it explained in a different way for it to stick.
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Old timey car radio buttons *(or, more modern, `RadioButton` controls on a web page)*.
You push one button in and any other pushed-in button pops back out. You are only allowed to have one button selected at a time.
Each button is an exclusive state. So any two buttons are mutually exclusive.
The samething happens with the flip of a coin. The “heads” choice and the “tails” choice cannot BOTH happen at the same time for one coin, so on that coin, they are mutually exclusive.
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