Question: What's the difference between deterministic demand and stochastic demand? Deterministic demand follows a known pattern that can be precisely predicted, whereas stochastic demand has randomness

What's the difference between deterministic demand and stochastic demand?

Deterministic demand follows a known pattern that can be precisely predicted, whereas stochastic demand has randomness associated with it such that its future value can never by precisely known in advance.

Both stochastic demand and deterministic demand have uncertainty associated with them, but deterministic demand's uncertainty follows the normal distribution.

Actually, deterministic demand and stochastic demand are really two names for the same thing.

Stochastic demand is always constant, while deterministic demand varies by the season.

What's the difference between deterministic demand and stochastic demand? Deterministic demand

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