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It was reported that the mean high temperature in the continental United States on October 5,2011 was 75.77°F,with a standard deviation of 10.95°F.What is the probability that a city chosen at random will report a temperature between 70°F and 80°F?
Incentive Conflict
A situation where parties have different, competing goals. In agency relationships, the different goals of principals and agents is an example of incentive conflict.
Agent
A person who acts on behalf of another individual (a principal). Principal–agent problems are created by the incentive conflict between principals and agents.
Principal
An individual who hires another (an agent) to act on his or her behalf.
Incentivize
To motivate or encourage someone by providing a reward or incentive.
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