While Spreadsheets Can Be Somewhat Useful for a Variety of Simulation

question 6

True/False

While spreadsheets can be somewhat useful for a variety of simulation problems, they can be confusing and are vulnerable to several drawbacks, including weak routines for random-number selection.

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Definitions:

Z Score

A statistical measure that describes a value's relationship to the mean of a group of values, expressed in terms of standard deviations from the mean.

Mean

The arithmetic average of a set of numbers, calculated by summing all the numbers and then dividing by the count of the numbers.

Mean

The arithmetic average of a set of numbers, calculated by dividing the sum of the values by the number of values.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.