Examlex
How do firms measure their profit?
Intersection
An operation in set theory whereby only the elements that are common to all sets are included in the outcome.
Marginal Probability
The probability of a single event occurring without consideration of any other events.
Mutually Exclusive
Two events that cannot occur at the same time, indicating no overlap in possible outcomes.
Independent
The condition where the occurrence or outcome of one event does not affect the occurrence or outcome of another event.
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