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. Discuss.

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Statistics For Business And Economics

ISBN: 9780134506593

13th Edition

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

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Question Posted: Nov 22, 2017 07:35 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 var...View the full answer

Statistics For Business And Economics

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