Examlex
It is impossible to know just how a particular individual's genes and personal history have interacted to produce him or her.
Monte Carlo Sampling
A statistical technique that utilizes random sampling and probability to solve problems that might be deterministic in principle.
Latin Hypercube Sampling
A statistical method used in simulations that stratifies the sample space to ensure a more comprehensive exploration of variables across their entire range of values.
Assumption's Probability Distribution
The theoretical distribution of probabilities assigned to all possible values of a variable based on certain assumptions.
NPV
Net Present Value; a financial metric used to evaluate the profitability of an investment, calculated by subtracting the present value of cash outflows from the present value of cash inflows.
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