Simulations with arena questions1 if 100 data points are, Ask an Expert

Management Studies

Simulations with Arena questions:

1) If 100 data points are good than 1000000 data points are always better.

a) True

b) False

2) "A simple model (or solution to a problem) is usually better than a more complicated model" is a short form of:

a) The Central Limit Theorem

b) The second fundamental law of probability

c) Occam's Razor

d) the KIS method

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