Examlex
An example of noise in the communication system is an employee who is too busy to read an important email.
Perfect Information
In game theory, the condition where all players are fully informed about all the aspects of the game, including the strategies and payoffs of the other players.
Posterior Probabilities
Refers to the probabilities of events occurring after taking into consideration new evidence or information.
Expected Monetary Value
A calculated average of all possible outcomes under uncertainty, considering the probabilities and impacts of those outcomes.
Optimal Act
The best possible action or decision in a given situation, often based on maximizing efficiency or effectiveness.
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