Examlex
After noting that a majority of professional basketball players are African-American, Ervin concluded that African-Americans are better athletes than members of other racial groups. Ervin's conclusion best illustrates the danger of
Utility Function
A mathematical model that represents consumer preferences by assigning a level of utility, or satisfaction, to different bundles of goods or services.
Probability
An indicator of the probability of an event happening, represented by a value ranging from 0 to 1.
Wealth
The abundance of valuable resources or material possessions, or the control of such assets.
Flood
An overflow of water that submerges land that is usually dry, often caused by heavy rain, melting snow, or failure of a dam.
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