Examlex
Data captured from sales records,purchase requisitions,invoices,and complaints represent external secondary data.
Simulation
A blend of qualitative and quantitative modelling that incorporates a set of assumptions about relationships among variables in a mathematical algorithm. Simulation can simultaneously model demand and supply, and is very useful for testing the impact of assumptions on the outcome of the model.
Bottlenecks
Points in a process where the flow is impaired or stopped entirely, leading to delays and reduced efficiency.
Times Series Model
A statistical method that analyzes time series data to extract meaningful statistics and characteristics of the data.
Regression Model
A statistical technique used to predict the value of an outcome variable based on one or more predictor variables.
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