Exam: GMAT (Verbal)

Definition: A type of strap or system used in various contexts, including clothing, gambling, and nautical rigging, often involving a method of increasing stakes or providing support.

Example: He used a martingale to secure the jibboom on the sailboat.

Definition: A quantity or thing that is intended to be increased or maximized in a particular situation or context.

Example: In decision theory, the maximand is the goal that one aims to achieve or optimize.

Definition: The largest value among the smallest possible gains that can be achieved in a situation where choices are made, often used in decision-making and game theory.

Example: In game theory, the maximin strategy helps players secure the best worst-case outcome.

Definition: To use a strategy that maximizes the minimum gain or outcome in decision-making or optimization problems.

Example: In game theory, players often maximin their strategies to ensure the best worst-case scenario.

Definition: To make something as large or great as possible.

Example: The company aims to maximize its profits this year.

Definition: A person who helps two or more parties reach an agreement or resolve a conflict by facilitating communication and understanding.

Example: The mediator helped both sides come to a peaceful resolution during the negotiation.

Definition: A field or area of work or activity where someone is skilled or has expertise.

Example: She found her metier in graphic design, where her creativity truly shines.

Definition: Relating to companies that have a very small market capitalization, typically less than 250 million dollars.

Example: Investing in microcap stocks can be risky but also offers the potential for high returns.

Definition: A company with a very small market capitalization, typically valued at less than $300 million.

Example: Investing in microcap stocks can be risky but may offer high rewards.

Definition: Relating to companies that have a market capitalization that is larger than small-cap companies but smaller than large-cap companies.

Example: Investors often look for midcap stocks as they can offer a balance of growth and stability.

Definition: To distribute resources or funds in a wrong or improper way.

Example: The company misallocated its budget, leading to financial difficulties.

Definition: A situation where resources, especially money, are not distributed in the best way, leading to waste or inefficiency.

Example: The misallocation of funds led to several important projects being underfunded.