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Random Procedure
A method or process characterized by random or unpredictable elements, used in situations requiring nondeterministic outcomes.
Standard Deviation
A measure indicating the dispersion or variability of a set of data points from their mean, used in statistics to quantify the amount of variation.
Probability
The measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.
NORM.DIST
A function in software packages, such as Excel, used to calculate the normal distribution of a set of data.
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