Examlex
Explain the differences between unstructured clinical judgments, actuarial techniques and structured professional judgments for conducting risk assessments, and the strengths and weaknesses of each.
Bayes Law
A principle stating the likelihood of an occurrence, grounded on previously known circumstances that may influence the event.
Bernoulli's Theorem
A principle in probability that describes the behavior of binomial distributions under certain conditions.
Utility Theory
A framework in economics and finance that analyzes choices under uncertainty, emphasizing the satisfaction or utility derived from each possible outcome.
Central Limit Theorem
A statistical theory stating that the sampling distribution of the sample mean approaches a normal distribution as the sample size becomes large, regardless of the shape of the population distribution.
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