Examlex
Which of the following describes the overall impact of the New Deal?
Posterior Probabilities
The probabilities of possible outcomes updated on the basis of new evidence or information.
Expected Monetary Value
The predicted value of a financial opportunity when accounting for all possible outcomes and their probabilities.
Optimal Act
The best possible action or decision, typically the one that maximizes the expected outcome or utility.
Bayesian Statistics
A statistical method that applies probability to statistical problems, focusing on the posterior distribution of parameters by incorporating prior knowledge.
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