Examlex
Write the expression without negative exponents.
Expected Utility
The sum of the utilities associated with all possible outcomes, weighted by the probability of each outcome occurring.
Probability
The quantification of the probability that an event will happen, represented by a number ranging from 0 to 1, with 0 signifying an impossible event and 1 signifying a certain event.
Income
The money received by a person or organization, typically on a regular basis, for work, through investments, or from other sources.
Expected Value
A calculated measure reflecting the average outcome of a random event when considering all possible outcomes and their probabilities.
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