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Expected Value
The anticipated value of a random variable, computed as the weighted average of all possible values it can take on, based on their probabilities.
Small Market
A term referring to an economic environment or sector that has a relatively small number of buyers and sellers, potentially leading to higher volatility and unique challenges.
Repetitive Decisions
Decisions that occur regularly, requiring a consistent approach or strategy to manage typical situations or processes.
Financial Impact
Describes the effect of a business event or decision on a company's financial health, often measured in terms of revenues, expenses, or profits.
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