Examlex
The probability that a given computer chip will fail is 0.02 independent of other computer chips.Find the probability that of 5 delivered chips,exactly 2 will fail.
Macro Context
The broad, overarching environment or setting that influences and shapes the dynamics of a situation or event.
Formality
Formality refers to the adherence to established rules, conventions, or ceremony, often characterized by a serious or ritualistic approach to interactions or processes.
Negotiating Parties
The individuals, groups, or organizations involved in the negotiation process, each with their own interests and goals.
Relative Power
The measure of influence or control one party has in relation to another within a specific context or situation.
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