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The writer Guillaume Apollinaire was notorious for
Expected Payoff
The predicted value or outcome of a gamble or decision that takes into account all possible outcomes, weighted by their respective probabilities.
Decision Maker
An individual or entity responsible for making choices or deciding on a course of action.
Opportunity Loss
The forfeit of possible benefits from different options when a specific choice is made.
Prior Probabilities
The probabilities that are assigned to events or hypotheses before any relevant evidence is taken into account.
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