Examlex
Explain why candidates with extreme views do not tend to get elected. What economic theorem is this most closely tied to?
Optimal Alternative
The best possible choice among various options under consideration, often based on specific criteria or outcomes.
Expected Opportunity Loss
A statistical concept that calculates the expected amount of loss for not choosing the best alternative.
Gross Profits
The financial gain obtained after subtracting the cost of goods sold from total revenue, indicating the efficiency of a company’s production process.
Probability
The measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
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