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When is a simulation better than hypothesis testing

by | Nov 30, 2023 | Posted Questions

When is a simulation better than
hypothesis testing?

a) Can you think of an example
related to your work where a simulation could not be performed, 

(b) one where a
simulation could be performed, yet a formal test would be preferred? 

(c) What
specific (different than hiring) business decisions would a manager make using
hypothesis testing?

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