Setting up a probability distribution, building a cumulative probability distribution, and generating random numbers are
A) necessary when the underlying probability distribution is normal
B) three of the five steps in Monte Carlo analysis
C) elements of physical simulation but not mathematical simulation
D) the three steps involved in simulating a queuing problem
E) advantages of simulation

Question

Quizplus · Accepted Answer

These are three of the five steps in Monte Carlo analysis, which is a common method in simulation that involves generating random numbers based on probability distributions to model complex systems.

Setting Up a Probability Distribution, Building a Cumulative Probability Distribution