Instructions: Identify the Following

question 34

Short Answer

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term. Mercantilism

---

Definitions:

Decision Table

A tabular method for representing and analyzing logical relationships between conditions and actions, used in decision-making and systems analysis.

Decision Variable

A variable in optimization or decision-making models whose value is subject to choice within a set of permissible values.

Monte Carlo Simulation

A computational algorithm that relies on repeated random sampling to obtain numerical results, often used in physical and mathematical problems.

Sales Forecasts

Predictive analysis to estimate the amount of product or service a business will sell during a particular period.