Examlex
A die (singular of dice) has six sides. What is the probability of rolling a 3?
Net Present Value
Net Present Value is a financial metric that calculates the difference between the present value of cash inflows and the present value of cash outflows over a period of time.
Expected Value
The long-term average or mean of a random variable or a probability distribution.
Perfect Information
A scenario in which all relevant economic information is known to all participants at the same time.
Expected Payoff
The predicted value or outcome of a gamble or decision that takes into account all possible outcomes, weighted by their respective probabilities.
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