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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Two things are mutually exclusive if it’s possible to have one or the other but not both at the same time.
For example, sleeping and awake are mutually exclusive states (I cannot simultaneously be sleeping and awake). Sleeping and being on the train are not mutually exclusive states (I can be sleeping on the train).
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