Examlex
Beginning at age 18 months, children learn an average of 25 new words a day.
Monte Carlo Simulation
A computational technique that uses random sampling to obtain numerical results, often used to assess risk and uncertainty in financial and project management.
Subjective Estimates
Assessments or judgments made that rely on personal feelings, tastes, or opinions rather than external observable phenomena.
Probability Outcomes
The set of possible results in an experiment or situation, often quantified as likelihoods or percentages.
Decision Tree Analysis
A graphical representation of possible solutions to a decision based on different conditions, often used in business to strategize investments or processes.
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