Repeated application of union bound

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I was learning about probability theory, with different events, until I came across something I wanted to query.

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I wanted to check if the above picture means if I pick k = 3, then:

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Yes. As for why, consider a geometric interpretation:

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The area contained in at least one of the sets (i.e. $\mathbb P(A \cup B \cup C)$) is no bigger than the sum of their individual areas (i.e. $\mathbb P(A) + \mathbb P(B) + \mathbb P(C)$).