Probabilistic models are also known as.
A. Deterministic Models
B. Stochastic Models
C. Dynamic Models
D. Static Models
Answer: Option B
Solution(By Examveda Team)
Probabilistic models are also known as Stochastic Models. Stochastic modeling is a form of a financial model that is used to help make investment decisions. This type of modeling forecasts the probability of various outcomes under different conditions, using random variables.This Question Belongs to Management >> Operations Research
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A. Is possible when the variables value is known
B. Reduces the scope of judgement & intuition known with certainty in decision-making
C. Require the use of computer software
D. None of the above
A. Must be deterministic
B. Requires computer aid for its solution
C. Represents data in numerical form
D. All of the above
A physical model is example of.
A. An iconic model
B. An analogue model
C. A verbal model
D. A mathematical model
The qualitative approach to decision analysis relies on.
A. Experience
B. Judgement
C. Intuition
D. All of the above
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