Define External Data and How This Helps Companies

question 37

Essay

Define external data and how this helps companies.

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Definitions:

Probability

The probability of an event happening, quantified by a number ranging from 0 to 1.

Uniformly Distributed

Describes a type of distribution where all outcomes are equally likely over a specific interval.

Assembling Product

The process of putting together various components or parts to create a finished product ready for use or sale.

Uniformly Distributed

Uniformly distributed indicates that all outcomes in a data set or probability distribution have the same or nearly equal chance of occurring.