Examlex
Describe a scale model of the disk of the Milky Way using a scale in which 1 cm = 1000 light-years. Note that the diameter of the disk is approximately 100,000 light-years, the thickness of young stars is 500 light-years, and the thickness of the older stars is 4,000 light-years.
Probability
A measure of the likelihood of a particular event or outcome occurring, expressed as a number between 0 and 1.
Expected Utility Maximizer
An individual who makes choices under uncertainty to maximize their expected level of satisfaction, based on the probabilities of different outcomes.
Von Neuman-Morgenstern
A theory in economics that provides an axiomatic basis for expected utility theory, which helps to explain choice under uncertainty.
Probability
An indication of how probable an event is to happen, represented numerically between 0 and 1, with 0 meaning it cannot happen and 1 meaning it is certain to happen.
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