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Consider a situation where there is a cost that is either incurred or not. It is incurred only if the value of some random input
Consider a situation where there is a cost that is
either incurred or not. It is incurred only if the value
of some random input is less than a specified cutoff
value. Why might a simulation of this situation give a
very different average value of the cost incurred than
a deterministic model that treats the random input as
fixed at its mean? What does this have to do with the
"flaw of averages"?
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