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What Is the Probability Theory? Define Probability and Expected Value

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Essay

What is the probability theory? Define probability and expected value.How are they related to each other?


Definitions:

Normal Accidents

Refers to complex systems' inevitable incidents caused by their intricacies and interactive elements, often unpredictable.

Invention Speculation

The act of predicting or theorizing about future inventions and technological advancements without concrete evidence.

Technological Determinist

A perspective suggesting that technological development shapes societal change, including cultural and social structures.

Technological Change

Involves the innovation and adoption of new technologies or the improvement of existing technologies, significantly impacting society and the economy.

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