Examlex
Unspoken rules and strategies that are rarely, if ever, taught formally are called:
Expected Monetary Value
A statistical technique in decision making used to calculate the average outcome when the future includes scenarios that may or may not happen.
Pessimist Criterion
A decision-making strategy used under conditions of uncertainty, where the decision maker prepares for the worst-case scenario to minimize losses.
Expected Monetary Value
A mathematical method for determining the mean result when future events include both possible and impossible outcomes.
Profiling Machine
A machine used in manufacturing to shape or outline parts or materials according to a predetermined profile, commonly used in metalworking and woodworking.
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