Examlex
If an analyst wanted to compare the operating performance of two retail companies, which of the following would be most useful?
Simple Event
An event with only one outcome or a very straightforward outcome in a probability scenario.
Single Die
Refers to one of a pair of small objects, typically cube-shaped, with sides numbered from one to six, used in games of chance.
Monte Carlo
Monte Carlo methods are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results and estimate uncertain quantities.
Sample Space
The set of all possible outcomes of a statistical experiment.
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