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Penalties for violating the Foreign Corrupt Practices Act (FCPA) are severe-corporations face a fine of up to per violation.
Posterior Probabilities
Probabilities that are updated or revised after taking into account new evidence or information.
Bayes' Theorem
A mathematical formula that describes how to update the probabilities of hypotheses when given evidence.
Multiplication Law
A probability rule that determines the likelihood of two independent events occurring together by multiplying their individual probabilities.
Chebyshev's Theorem
A statistical theorem stating that for any set of data, the proportion of results that fall within k standard deviations from the mean is at least 1-1/k^2 for k>1.
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