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I toss a penny and observe whether it lands heads up or tails up. Suppose the penny is fair; that is, the probability of heads is 1/2 and the probability of tails is 1/2. This means that:
Linear Programming
A mathematical method used to determine the best possible outcome or solution from a given set of parameters or constraints.
Personnel Supply
The availability of qualified candidates for employment within the labor market to meet an organization's staffing needs.
Markov Model
A stochastic model used to predict the probability of various states and their transitions over time, often utilized in decision-making processes.
HR Planning Method
Strategies and techniques used by human resources to ensure the right number and type of employees are available to meet organizational goals.
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