Examlex
Explain what OSHA is and its purpose.
Expected Opportunity Loss
The anticipated loss in value resulting from not choosing the best action or decision under uncertainty.
Perfect Information
A theoretical concept where all participants have access to all relevant information, making fully informed decisions possible.
Preposterior Analysis
An evaluation method used in decision theory to assess the value of collecting additional information before making a decision.
Prediction Value
The expected outcomes or values predicted by a statistical model or algorithm.
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