Demand for a product follows normal distribution (one of many statistical distributions you learned earlier). Models using this data are best done using
A) deterministic model
B) probabilistic models
C) neither
D) both

Question

Quizplus · Accepted Answer

Probabilistic models are best suited for situations where there is uncertainty or variability in the data, such as when demand follows a normal distribution. These models can incorporate the randomness and variability inherent in the demand data.

Demand for a Product Follows Normal Distribution (One of Many