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Bayes' theorem is used to calculate
Income Elasticity
An indicator of the variation in demand for a product based on alterations in consumer income.
International Value
The worth of a product, service, or currency as recognized and accepted across different countries and economies.
Agricultural Exports
Products derived from farming and agriculture that are sold by one country to other countries, which can include crops, livestock, and other agricultural produce.
Dollar
A currency unit used by the United States and some other countries, recognized by its symbol $.
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