Examlex
In epidemiology, the difference between sensitivity and specificity is that sensitivity is able to identify people with a disease by negative test results, and specificity determines by positive test results.
English Auction
A type of auction where participants bid openly against one another, with each bid higher than the previous bid, and the highest bidder wins.
Willingness To Pay
A measure of the maximum amount an individual is prepared to spend on a good or service, reflecting its perceived value.
Expected Revenue
The anticipated amount of money a business expects to receive over a certain period based on projected sales volumes and prices.
Probability Distribution
A representation of the likelihood of different outcomes in an experiment.
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