Examlex
What does it mean to have a strong organizational culture, and why is it important to the organization? If you started a company, what would be important to you in establishing a positive culture?
Expected Utility
A concept in economics and finance that calculates the anticipated utility of different choices, taking into account the various possible outcomes and their probabilities.
Expected Utility Function
A mathematical representation of a decision-maker's preference over uncertain outcomes, emphasizing the expected level of satisfaction or value.
Probability
A numerical assessment between 0 and 1 indicating how probable it is for an event to take place.
Expected Value
The weighted average of all possible values of a random variable, with weights being their respective probabilities.
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