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The Decline of the West, which emphasized the decadence of Western civilization, was written by
Expected Value
The weighted average of all possible values of a random variable, with the weights being the probabilities of each outcome.
Absolute Value
The distance of a number from zero on the number line, disregarding its sign.
Payoff
The outcome or return from an investment or decision, often expressed in terms of profit or loss.
Probability
Probability quantifies the likelihood of an event occurring, ranging from 0 (impossible) to 1 (certain), and is a fundamental concept in statistics.
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