Examlex
Your psychology professor asks you to take part in an experiment that will measure how speedily and accurately you can remember details about a song. Which of these will your professor measure?
Prediction Value
The expected outcomes or values predicted by a statistical model or algorithm.
Cost Of Information
The total expense involved in generating, processing, storing, and transmitting information, including any financial, time, or resource costs.
Opportunity Loss
The potential benefits an investor or business misses out on when choosing one alternative over another.
Prior Probabilities
The probabilities of different outcomes or hypotheses as estimated before any new evidence or data is taken into account.
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