Simulations Are a Great Way to Prototype Services

question 23

True/False

Simulations are a great way to prototype services.

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Definitions:

Compound Event

A type of event that combines two or more simple events, usually by "and" or "or" operations.

Probability

A measure of the likelihood that a specific event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Relative Frequency

A measure indicating how often a certain value, event, or outcome occurs in relation to the total number of cases observed.

Diagnosis

The process of identifying the nature of an illness or other problem by examination of the symptoms.