What defines the characteristics of a Parametric Diagram?

A Parametric Diagram is specifically designed to represent the relationships between key elements of a system, particularly how blocks are interrelated through values. The primary purpose of a Parametric Diagram is to express constraints and the dependencies that exist between system parameters. This allows for a clear understanding of how different values influence each other, enabling analysis and optimization of system performance.

For instance, this type of diagram can show how various design parameters, such as dimensions, performance requirements, and costs, interconnect and affect one another, providing invaluable insight during modeling processes. By using this diagram effectively, one can analyze trade-offs and assess whether the system meets its specified requirements under various conditions.

The other options don't align with the core purpose of a Parametric Diagram. Constraints are indeed central to a Parametric Diagram, while scheduling of events and the depiction of random interactions are characteristics more associated with other diagram types, such as timeline diagrams or probabilistic models. Thus, focusing on the relationships between blocks through values captures the essence of a Parametric Diagram accurately.