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Where does exchange among the subdivisions of the ECF primarily occur?
Likelihood Probabilities
The probabilities that express the plausibility of different parameter values given a certain outcome.
Experimental Outcome
The result observed from conducting an experiment, which can be used to test hypotheses and theories.
Perfect Information
A situation in decision theory and economics where all participants have full and identical information about the elements of the game or economic situation.
Decision Tree
A graphical representation of possible solutions to a decision based on certain conditions, used in decision analysis to help identify a strategy most likely to reach a goal.
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