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What Is the Probability Theory? Define Probability and Expected Value

question 20

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


Definitions:

Multicultural

Pertaining to, or representing several different cultures or cultural elements, highlighting diversity and inclusion.

Social Action

Acts and behaviors intended to bring about change in societal norms, policies, or structures, often driven by collective or individual efforts.

Reducing Inequality

Reducing Inequality involves measures and actions aimed at decreasing the economic and social disparities between different populations or groups within society.

Gross Income

The total amount of money made in one year by a person, household, or family unit. Also known as money income at the Census Bureau.

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