An Equation That States That Two Ratios Are Equal, Such $\frac { 1 } { 2 } = \frac { 4 } { 8 }$

question 247

Multiple Choice

An equation that states that two ratios are equal, such as $\frac { 1 } { 2 } = \frac { 4 } { 8 }$ , is called a __________.

• A) quotient
• B) proportion
• C) fraction
• D) variation
• E) factor

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Definitions:

Expected Value

A statistical concept that calculates the average outcome of a random event considering all possible scenarios and their probabilities.

Perfect Information

A condition in decision-making and game theory where all parties have complete and accurate information about the situation.

Net Present Value

A financial metric that calculates the present value of all future cash flows of a project or investment, considering the time value of money.

Maximax Strategy

A decision-making approach focused on maximizing the maximum possible payoff, suitable for optimistic decision-makers.