Examlex
Write the expression in lowest terms.
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Utility Function
An equation that assigns a level of utility or satisfaction to each bundle of goods, allowing for comparisons of consumer preferences.
Probability
Probability is the measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
Diversified Portfolios
Investment strategies involving a mix of assets (stocks, bonds, real estate, etc.) to reduce risk through diversification.
Positive Correlation
A relationship between two variables where they move in the same direction; as one increases, the other also increases.
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