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Responsibility centres in a decentralized organization
Waiting Time
The duration of time that elapses while waiting for a particular event or service to occur.
Continuous Random Variable
A variable that can take on an infinite number of values within a given range, where the outcomes cannot be counted and can only be described using intervals.
Probability Function
A formula that provides the probabilities for various outcomes within an experimental setting.
Density Function
In probability and statistics, a mathematical function that describes the probability distribution of continuous random variables, indicating the likelihood of different outcomes.
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