Examlex
Which of these occurs when a company sells its products directly to buyers in a target market?
Expected Values
The expected value of a variable is determined by the total of all its potential outcomes, each weighted by its chance of happening.
Joint Probabilities
The probability of two or more events happening at the same time, often represented within a probability distribution.
Rule of 5
A guideline in statistics that suggests if the sample size is smaller than 5, certain statistical methods, such as normal approximation, may not be reliable.
Expected Values
The mean of a probability distribution, representing the average outcome one can expect to see.
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