In 2015, the Human Population of the Planet Was About

question 44

Multiple Choice

In 2015, the human population of the planet was about

• A)23 billion.
• B)14.3 billion.
• C)7.3 billion.
• D)100 million.

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Definitions:

Expected Payoff

In decision theory and economics, it is the average of all possible outcomes, each weighted by its probability of occurrence.

Perfect Information

A situation in decision theory and economics where all parties have full and identical information about all aspects of the situation.

Car Audio Store

A retail business specializing in the sale of audio systems and accessories for vehicles.

Expected Value

The predicted value of a variable, computed as the sum of all possible values each multiplied by the probability of its occurrence.