Examlex
Explain the primary limitation of Tappan's definition of crime.
Average Payoff
The expected outcome or return of an investment or decision averaged over all possible scenarios.
Expected Value
The predicted value of a variable, calculated as the weighted average of all possible values this variable can take; each value is weighted by its probability of occurrence.
Perfect Information
Perfect Information refers to a situation where all participants have comprehensive knowledge of all relevant aspects, eliminating uncertainty.
PHStat
A software tool that enhances Excel with statistics functions, making it easier to perform statistical analyses.
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