Examlex
Dual distribution involves the use of two or more marketing channels for distributing the same products to the same target market.
Posterior Probabilities
The probabilities of different possible outcomes or hypotheses being true after considering new evidence, rephrasing the concept in a broader context.
Prior Probabilities
The probabilities assigned to events before any new evidence is considered, often used in Bayesian analysis.
Expected Monetary Value
A calculated average of possible outcomes, where each outcome is weighted by its probability of occurrence and its monetary impact.
Optimal Act
The most efficient or effective action to achieve a desired outcome or goal.
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