Examlex
Changes in technology will result in a decrease in the amount of information that managers will use to make decisions.
Sample Space
The collection of every potential result that can emerge from a statistical experiment.
Mutually Exclusive
A statistical term describing events that cannot occur at the same time.
Collectively Exhaustive
A condition where a set of events covers all possible outcomes, ensuring that every possible scenario is accounted for.
Probability
The quantification of an event's chance of happening, represented as a number from 0 to 1.
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