Examlex
Two important strategic criteria for targeting segments include the firm's strengths and the attractiveness of the segment.
Lottery
A form of gambling involving the drawing of numbers for a prize, often used as a method to allocate scarce resources such as green cards or in decision theory as a risk model.
Probability
A measure of the likelihood that an event will occur, quantified as a number between 0 and 1.
Utility
A concept in economics that measures the satisfaction, happiness, or benefit that results from the consumption of goods and services.
Expected Utility Function
A mathematical representation in economic theory that models preferences over risky choices or uncertain outcomes.
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