Examlex
What is the difference between intergenerational and intragenerational mobility? Provide an example of each.
Prior Probabilities
The probabilities assigned to events before any new evidence is considered, often used in Bayesian analysis.
Expected Monetary Value
A calculated average of possible outcomes, where each outcome is weighted by its probability of occurrence and its monetary impact.
Optimal Act
The most efficient or effective action to achieve a desired outcome or goal.
Posterior Probabilities
The probabilities that are computed after taking into account known or observed evidence, often used in Bayesian statistics.
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