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For direct price discrimination to work,
Simulation Applications
Software programs designed to mimic the operation of real-world processes or systems for the purpose of analysis, training, or decision-making.
Exact Mathematical Model
A precise representation using mathematical equations to describe the characteristics or operations of a system or process.
Monte Carlo Simulation
A computational algorithm that uses repeated random sampling to obtain numerical results, often used in physical and mathematical problem-solving.
Average Waiting Time
calculates the average duration customers or items wait before being serviced, often used in queue management to assess performance.
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