Which of the Following Is the Last Stage of the Modeling

question 4

Multiple Choice

Which of the following is the last stage of the modeling process?

• A)model documentation
• B)model logic
• C)model validation
• D)specification of variables

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Definitions:

Random Variable

A variable whose values are outcomes of a random phenomenon and are subject to variability.

Standard Deviation

A measure of the dispersion or variability in a dataset, indicating how much the individual data points differ from the mean.

Weekly Income

The total amount of money earned by an individual or household in one week.

Poisson Approximation

A statistical approximation method that applies the Poisson distribution to model the number of events in fixed intervals of time or space under certain conditions.