Examlex
Explain the five-step process used to test the quality of a firm's strategy.
Probability
The quantification of the probability of an event happening, expressed as a numeric value ranging from 0 to 1.
Hurdle Rate
The minimum rate of return on an investment required by a manager or investor to proceed with the project.
IRR
Internal Rate of Return; a financial metric used to evaluate the profitability of investments.
Variance
A measure of the spread of a set of values, calculated as the average of the squared deviations from the mean.
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