a table containing random numbers derived from some artificial process, such as a computer program
random numbers
numbers that are equally likely to be drawn from a large population of numbers
random variable
a variable that can be assigned numeric values reflecting the outcomes of an event; because these values occur in no particular order, they are said to be random
random variations
movements in a forecast that are not predictable and follow no pattern
regression
a statistical technique for measuring the relationship of one variable to one or more other variables ; this method is used extensively in forecasting
regression equation
an equation derived from historical data that is used to forecast
regret
a value representing the regret the decision maker suffers when a wrong decision is made
relative frequency probability
another name for an objective (a posteriori) probability; it represents the relative frequency with which a specific outcome has been observed to occur in the long run
reorder lead time
the time between the placement of an order and its receipt into inventory
reorder point
the inventory level at which an order is placed
rim requirements
the supply and demand values along the outer row and column of a transportation tableau
risk averter
a person who avoids taking risks
risk taker
a person who takes risks in the hope of achieving a large return
Row operations
are used to solve simultaneous equations where equations are multiplied by constants and added or subtracted from each other
run
a sequence of sample values that displays the same tendency in a control chart