Asked by Laura Arrunada on Jul 02, 2024
Like mathematical and analytical models, simulation is restricted to using the standard probability distributions.
Probability Distributions
Representations or functions that describe the likelihood of different outcomes or values within a range for a random variable.
Analytical Models
Mathematical representations that describe real-world processes, systems, or problems to facilitate decision-making and problem-solving.
- Understand the foundation and principles of simulation, including its purpose and functionality.
Learning Objectives
- Understand the foundation and principles of simulation, including its purpose and functionality.
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