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__________ Refer to the Probabilities of the States of Nature

question 31

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__________ refer to the probabilities of the states of nature after revising the prior probabilities based on sample information.


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Taxable Income

The amount of income that is used to calculate how much tax an individual or a company owes to the government.

Part-time Janitor

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Gross Income

The total income received before any deductions or taxes are applied.

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