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Calculate the expected payoff for the following cases with the formula: (P1) * (payoff if state 1) + (P2) * (payoff if state 2), where P1 and P2 are the probabilities of state 1 and 2, respectively.
3PL Firms
Third-party logistics providers, or companies that offer outsourced logistics and supply chain management services.
Basic Types
Fundamental categories or classifications used to differentiate items, concepts, or entities based on common characteristics.
Prevalent
Describes something that is widespread, commonly occurring, or generally accepted within a given context or area.
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