Examlex
Choose the one most appropriate statement for each.
-cud
Variance
A measure of the dispersion or spread of a set of data points around their mean value.
Minimin Strategy
A decision rule used in scenarios involving uncertainty, where the decision maker aims to minimize the potential for the worst-case scenario.
Maximum Payoff
The highest possible return that can be achieved from an investment or decision scenario.
Minimum Payoff
The least amount of return or profit one can expect from an investment or decision.
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