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In the context of Scenario B, the leadership perspective that Ralph described is the
Expected Value
The weighted average of all possible values of a random variable, with the weights being the probabilities of occurrence.
Full-Fare Ticket
A type of airline or travel ticket that has no restrictions and is often refundable, representing the highest fare category.
Expected Value
The long-run average value of repetitions of the experiment it represents, essentially a mean of a random variable in probability and statistics.
Probability
The quantification of the probability of an event happening, expressed as a numeric value ranging from 0 to 1.
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