In a New Buy Situation, One or More Steps of the Business-To-Business

question 59

True/False

In a new buy situation, one or more steps of the business-to-business buying process is typically eliminated.

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Definitions:

Monte Carlo Simulation

A computational algorithm that uses repeated random sampling to obtain numerical results, often used to assess risk and uncertainty in business and engineering models.

Cumulative Probability

The probability that a random variable takes on a value less than or equal to a specific value, used to understand the likelihood of different outcomes.

Monte Carlo Simulation

A computational algorithm that uses repeated random sampling to obtain numerical results, especially to calculate risks and uncertainties in predictive and forecasting models.

Cumulative Probability

The probability of obtaining a result equal to or less than a specific value within a statistically distributed set of data.