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Monte Carlo Simulation
A computational technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate the behavior of complex systems.
Cumulative Probability
The probability of an event occurring up to a certain point in time or over a range of values, often visualized through a cumulative distribution function.
Monthly Sales
The total volume or dollar value of all sales transactions made by a business within a month, used as an indicator of business performance and market demand.
Probability
The likelihood or chance of a specific outcome occurring, usually expressed as a ratio or percentage.
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