What is a popular simulation that predicts the probability of different outcomes in the presence of many random variables?
A) Monte Carlo simulation
B) Forecasting
C) A confidence interval
D) Break-even analysis

Question

Quizplus · Accepted Answer

Monte Carlo simulations are used to model the probability of different outcomes in a process that cannot easily be predicted due to the intervention of random variables. It is a technique used to understand the impact of risk and uncertainty in prediction and forecasting models.

What Is a Popular Simulation That Predicts the Probability of Different