Introduction to Management Science (10th Edition)

[Page 793 ( continued )]
validation

the process of making sure model solution results are correct (valid)

variable

within a model, a mathematical symbol that can take on different values

variable costs

costs that are determined on a per-unit basis

variance

a measure of how much the values in a probability distribution vary from the mean

Venn diagram

a pictorial representation of mutually exclusive or nonmutually exclusive events

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