Examlex
_____ is the business strategy which involves engaging in a variety of operations so that sluggish sales in one market can be offset by stronger sales elsewhere.
Prior Probability
The probability of an event or hypothesis before new evidence or data is taken into account.
Joint Probability
The probability that two or more events happen at the same time. It's calculated by the intersection of the events' probabilities.
Marginal Probability
The probability of an event occurring, regardless of the possible outcomes of other related events.
Posterior Probability
The probability of assigning events or hypotheses after taking into consideration relevant evidence or background information.
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