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What is expectancy theory? Describe the three specific beliefs that the theory suggests our choices depend on.
Random Numbers
Numbers generated in a sequence where each number has an equal probability of occurring, widely used in simulations, statistical sampling, and cryptography.
Repeated Use
Refers to the capability of an item or resource to be used multiple times, rather than being disposable after a single use.
Cumulative Probability
The probability of obtaining a value less than or equal to a particular value in a distribution.
Random Number Intervals
Ranges used in simulations that represent probabilities of different outcomes occurring.
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