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The assembly time for a product is uniformly distributed between 2to 10 minutes. The probability of assembling the product in 4minutes or more is
Optimal Act
The most efficient or effective action to achieve a desired outcome or goal.
Posterior Probabilities
The probabilities that are computed after taking into account known or observed evidence, often used in Bayesian statistics.
Prior Probabilities
Prior probabilities are the initial estimations of the likelihood of an event, based on existing knowledge before any new evidence is taken into account.
Likelihood Probabilities
The probabilities that express the plausibility of different parameter values given a certain outcome.
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