Why do we generally prefer a probabilistic model to a deterministic model? Give examples for when the

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Why do we generally prefer a probabilistic model to a deterministic model? Give examples for when the two types of models might be appropriate.

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Statistics For Business And Economics

ISBN: 9780321826237

12th Edition

Authors: James T. McClave, P. George Benson, Terry T Sincich

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Question Posted: Apr 07, 2016 08:17 AM

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Why do we generally prefer a probabilistic model to a deterministic model? Give examples for when the

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A deterministic model does not allow for random error or vari...View the full answer

Statistics For Business And Economics

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