Instructions: Identify the Following

question 75

Short Answer

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Conscience Whigs

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Definitions:

Conditional Probability

This is the probability of an event occurring given that another event has already occurred.

Expected Value

A statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen, often used in decision-making and risk assessment.

Outcome

The result or consequence of an action, process, or situation, typically measured against expected or intended objectives.

Expected Monetary Value

A statistical concept used to calculate the average outcome when the future includes scenarios that may or may not happen.