Examlex
A learning curve effect is a qualitative model of the belief that the new products should cost less as more are produced.
Event A
A generic term used to describe a particular outcome or set of outcomes within a probability space or experiment.
Event B
An occurrence or outcome within a statistical experiment to which a probability can be assigned.
Mutually Exclusive
A characteristic of events that cannot occur at the same time, indicating a clear separation or distinction between them.
Collectively Exhaustive
A property of a set of events that ensures all possible outcomes are covered, leaving no possibility out.
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