Hi, any one can help me to differentiate the differences between - cause and effect : it can be better modelled via deterministic eg scenario test - ripple effect : can be modelled via stochastic model . thanks
Hi, Cause and effect is all about changing one parameter, and then seeing the effect. This can be done through a deterministic model. Ripple effect is more around being able to understand/analyse the knock on effects of an event that occurs. You may want to have a read through chapter 20, section 2.5 for some additional commentary around this. Aman ActEd Tutor