Each Different Set of Values Obtained for the Uncertain Quantities

question 20

Multiple Choice

Each different set of values obtained for the uncertain quantities in a simulation model can considered to be:

• A) the mean of the probability distribution.
• B) a scenario.
• C) a best guess.
• D) all of these options.

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Definitions:

Methods

Various techniques or processes used to accomplish tasks or achieve objectives.

Statistical Inference

The process of using data analysis to deduce properties of an underlying distribution of probability.

Extrapolation

The process of estimating unknown values by extending or projecting from known data.

Probability Sampling

A sampling method that hives every individual in the population an equal chance of being selected for the sample.