_____ Is a Statistical Technique in Which Additional Knowledge Is

question 13

Short Answer

_____ is a statistical technique in which additional knowledge is used to revise earlier estimates of probabilities.

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Definitions:

List Price

The manufacturer's suggested retail price that a product should be sold for.

Discounted

A reduced price or value, often as an incentive for purchase, representing a deduction from the usual cost of goods or services.

Discount Rate

The interest rate used to discount future cash flows to their present value.

Round

To adjust a number to a desired degree of precision, usually to a nearby value that is easier to work with or understand.