Using the definitions found in Chapter 1 of Quantitative Analysis, the Internet, and your own personal experiences, make notes on and post one example of each of the following to the class Discussion Board topic “Deterministic and Probabilistic Models”.

Statistics by Geoffrey

Action Items

  • Using the definitions found in Chapter 1 of Quantitative Analysis, the Internet, and your own personal experiences, make notes on and post one example of each of the following to the class Discussion Board topic “Deterministic and Probabilistic Models”.
    • A deterministic model ;
    • A probabilistic model ; and
    • A situation in which you could use post optimality analysis (also known as sensitivity analysis).