OM3-INTRODUCTION TOMODELLING & DATA ANALYSIS

Question 1

MODEL FORMULATIONS

What are the difference between DETERMINISTIC OR STHOCASTIC MODELS

Answer 1

D. NO RANDOMNES THAT OCCURS- S. YOU HAVE RANDOM THINGS THAT CAN OCCUR, BEFORE IT HAPPENS YOU DONT KNOW IT, ALTHOGH YOU HAVE SOME IDEAS

Question 2

STATIC AND DYNAMIC MODELS

Answer 2

DYNAMIC; EVOLVES ON TIME LIKE DEGRADATION