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When the price level falls
Scrap Value
The estimated resale value of an asset at the end of its useful life, often considered in depreciation calculations.
Coin Toss
A random method of deciding between two alternatives by flipping a coin and observing which side lands facing up.
Expected Value
A calculated average of all possible values of a random variable, weighted by their probabilities.
Coin Toss
A random method used to determine a decision, consisting of throwing a coin into the air and checking which side is facing up when it lands.
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