If After a Change in an Allocation It Can Be

question 92

True/False

If after a change in an allocation it can be demonstrated that the value of the gains exceeds the value of the losses, then the change is said to be potentially efficient.

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Definitions:

Probability

The likelihood or chance that a particular event will happen, quantifiable as a value between zero (impossible) and one (certain).

Independent

Pertains to variables or events that are not influenced or affected by each other.

P(A ∪ B)

The likelihood that either event A or event B, or both, will happen.

P(A ∪ B)

The probability that either event A or event B, or both, occur.