Examlex
How old is our planet thought to be from a scientific viewpoint?
Probability
A valuation in the form of a number between 0 and 1 that assesses the possibility of an event's occurrence.
Sealed-Bid
A method of auction or tendering process where all bidders simultaneously submit their bids in secret, to be opened at a predetermined time.
Lemons
A term used in economics to describe a product of lower quality that is hard to distinguish from higher quality products before purchase.
Expected Value
The mean of all potential outcomes of a random variable, adjusted according to their individual probabilities of occurrence.
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