Examlex
Deciding what information to store and how to represent it is known as:
Weighted Average
Weighted average is a calculation that takes into account the varying degrees of importance of the numbers in a data set, providing a measure that reflects their contributions.
Probability Distribution
A statistical function describing the likelihood of various outcomes in an experiment.
Expected Value
A statistic that represents the average outcome of a set of events, weighted by the likelihood of each event.
Probability Distribution
A computation in statistics identifying each possible outcome and its probability for a random variable within a specified range.
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