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Expected Value
The weighted average of all possible outcomes of a random variable, with weights being their respective probabilities of occurrence.
Weighted Average
A calculation that takes into account the different weights or importance of some elements in a data set, providing a mean value that reflects these weights.
Standard Deviation
A numerical indicator that calculates the degree of spread or deviation of data points from their average.
Payoffs
The outcomes or benefits received from a particular action or decision, often used in the context of game theory.
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