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What is deterministic demand?
Deterministic demand refers to a situation where the demand for a product or service is known with certainty and can be precisely forecasted over a specific period. This type of demand is predictable and does not exhibit variability, allowing businesses to plan their inventory and production schedules accordingly. It contrasts with stochastic demand, which is characterized by randomness and uncertainty. Examples of deterministic demand might include seasonal products with consistent sales patterns or items with fixed contracts.
What is the key variable affecting demand?
price
The key variable affecting demand is?
price
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
What is the difference that exists between arc elasticity of demand and point elasticity of demand?
Arch elasticity demand is the percentage change in one variable divided by the percentage change in another variable, it calculates the elasticity over a range of values, while point elasticity of demand uses differential calculus to determine the elasticity at a specific point
What are deterministic and stochastic effects of x-ray?
No threshold
What is deterministic demand?
Deterministic demand refers to a situation where the demand for a product or service is known with certainty and can be precisely forecasted over a specific period. This type of demand is predictable and does not exhibit variability, allowing businesses to plan their inventory and production schedules accordingly. It contrasts with stochastic demand, which is characterized by randomness and uncertainty. Examples of deterministic demand might include seasonal products with consistent sales patterns or items with fixed contracts.
What is the difference between 'stochastic' and 'deterministic'?
These words are used to describe ways of modeling or understanding the world. "Stochastic" means that some elements of the model or description are thought of as being random. (The word "Stochastic" is derived from an ancient Greek word for random.) A model or description that has no random factors, but conceivably could, is called "deterministic." For example, the equation Q = VC where Q = charge, V = voltage, and C = capacitance, is a deterministic physical model. One stochastic version of it would be Q = VC + e where e is a random variable introduced to account for or characterize the deviations between the actual charges and the values predicted by the deterministic model.
What is a sequence that is predictable?
A deterministic sequence - as opposed to a stochastic or random sequence.
How would you explain to an idiot what 'Stochastic Processes' are?
Buying a lottery ticket daily is deterministic. Winning a lottery and getting a prize is Stochastic.
What is the difference between Monte Carlo and stochastic methods of simulation?
monte carlo simulation is used to give solutions of deterministic problems whereas stochastic simulation is used for stochastic problems.
What is the difference between deterministic and stochastic effects?
I don't know the answer I am looking for the answers too. :) I'm only 41.
What does the word stochastic mean?
Stochastic means non-deterministic. This means that something contains an inherent degree of randomness. For more detail, you should consult a dictionary or more detailed literature on probability theory.
What has the author H Marcus-Roberts written?
H. Marcus-Roberts has written: 'Comparison of some deterministic and stochastic models of population growth'
Write down the difference between stochastic and deterministic with example?
Stochastic systems involve randomness and unpredictability, meaning their outcomes can vary even with the same initial conditions. For example, rolling a dice is stochastic since each roll can yield different results. In contrast, deterministic systems have predictable outcomes based on initial conditions, where the same inputs will always produce the same results, such as solving a mathematical equation like (2 + 2 = 4).
What is the difference between stochastic and random?
Wikipedia states that stochastic means random. But there are differences depending on the context. Stochastic is used as an adjective, as in stochastic process, stochastic model, or stochastic simulation, with the meaning that phenomena as analyzed has an element of uncertainty or chance (random element). If a system is not stochastic, it is deterministic. I may consider a phenomena is a random process and analyze it using a stochastic simulation model. When we generate numbers using a probability distribution, these are called random numbers, or pseudo random numbers. They can also be called random deviates. See related links.
What are the ratings and certificates for Threat Matrix - 2003 Stochastic Variable 1-13?
Threat Matrix - 2003 Stochastic Variable 1-13 is rated/received certificates of: Netherlands:12 USA:TV-14
