Distinction in continuous and discrete uncertain quantities

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Reference no: EM131523907

Question: Even though we distinguish between continuous and discrete uncertain quantities, in reality everything is discrete if only because of limitations inherent in our measuring devices. For example, we can only measure time or distance to a certain level of precision. Why, then, do we make the distinction between continuous and discrete uncertain quantities? What value is there in using continuous uncertain quantities in a decision model?

Reference no: EM131523907

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