What is the difference between deterministic and probabilistic models? Give several examples of each type of model.

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Managerial Decision Modeling With Spreadsheets

ISBN: 718

3rd Edition

Authors: Nagraj Balakrishnan, Barry Render, Jr. Ralph M. Stair

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Question Posted: Dec 22, 2015 03:13 AM

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What is the difference between deterministic and probabilistic models? Give several examples of each type of model.

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Deterministic models assume that all the relevant input data are known with certainty T...View the full answer

Managerial Decision Modeling With Spreadsheets

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