Examlex
A country has an absolute advantage in the production of a product when it is more efficient than any other country in producing it.
Probability Of Occurrence
The likelihood of an event happening, measured on a scale from 0 (impossibility) to 1 (certainty).
Span Of Time
The duration or extent between two points in time.
Poisson Random Variable
A type of random variable that represents the number of events occurring in a fixed interval of time or space, under the condition that these events happen with a known constant mean rate and independently of the time since the last event.
Probability Distribution
A probability distribution is a statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.
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