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  • Identify the part of setting up a simulation in Excel that you find to be the most challenging, and explain why. Identify resources that can help you with that.
  • Explain how simulation is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting


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bus math qrb501 wk3 qu-8

Business Math, Ch. 7

Why is the standard deviation big?


I think this would be an appropriate time to talk about reliability, validity, precision, and accuracy.  There are times when we can have results that are reliable, but not valid to our objectives in a study.  There are also times we can have results that are valid, but not reliable.  The "bull's eye" illustration for these topics is always one that is helpful.  Take a look at this article and share your thoughts:



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