Examlex
Other things equal, extracting oil from shale becomes economically viable (same or lower cost than using conventionally extracted oil) when oil prices reach or more per barrel.
Uniform Distribution
An equal likelihood for all outcomes characterizes this probability distribution.
Waiting Time
The duration of time that passes from a specified point until a particular event occurs, often analyzed in queueing theory to improve service processes.
Standardize
The process of adjusting values measured on different scales to a notionally common scale, often used in statistical analysis to compare data points.
Normal Curve
A symmetrical, bell-shaped curve that represents the distribution of many types of data; most scores are near the mean, with fewer scores at the extremes.
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