Examlex
The fact that Bert's friend Ernie keeps him amused by telling funny stories best illustrates the ____ dimension of friendship.
Expected Monetary Value
A statistical concept used to calculate the average outcome when the future includes scenarios that may or may not happen.
Uncertainty
Uncertainty refers to the lack of certainty, predictability, or definiteness about an outcome or condition, often requiring risk assessment and management strategies.
Risk
The potential for loss or the negative consequences that may arise from a given action, decision, or event.
EMV
Expected Monetary Value; a quantitative risk analysis tool used to help in decision-making by calculating the anticipated monetary outcome of different scenarios.
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