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Expected Income
The amount of income an individual anticipates or forecasts to receive over a certain period.
Probability
A numeric evaluation representing the probability of an event taking place, where 0 signifies no chance and 1 signifies certainty.
Expected Income
The weighted average of all possible income outcomes, where the weights are the probabilities of each outcome occurring.
Probability
A measure of the likelihood of a particular event or outcome, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
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