________ Explains Why Small Disturbances Can Grow into Large Disturbances

question 83

Short Answer

________ explains why small disturbances can grow into large disturbances.

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Definitions:

Probability

A measure of the likelihood of an event occurring, expressed as a number between 0 and 1.

Actuarially Fair Rates

Insurance rates that are set based upon a fair assessment of the expected risks and payouts, ensuring no expected profit or loss for the insurer.

Insurance Premiums

Payments made regularly to an insurance company in exchange for coverage, ensuring financial protection against specified risks.

Administrative Costs

Expenses that are not directly tied to specific business operations, including office expenses, salaries of non-production employees, and legal fees.