Latin Hypercube sampling differs from Monte Carlo sampling in that the Latin Hypercube sampling .
A) selects random variates independently over the entire range of possible values of the distribution
B) uses an uncertain variable whose probability distribution is divided into intervals of equal probability
C) is used for evaluating the model performance under various what-if scenarios
D) achieves less accurate forecast statistics for a fixed number of trials

Question

Quizplus · Accepted Answer

Latin Hypercube sampling divides the probability distribution into intervals of equal probability and then randomly selects one value from each interval for the different variables. This ensures a more even and representative sampling of the parameter space compared to traditional Monte Carlo sampling, which selects random variates independently over the entire range of possible values. Latin Hypercube sampling is often used for sensitivity analysis and optimization in computer experiments. The statement in option D is incorrect as Latin Hypercube sampling usually achieves more accurate forecast statistics for a fixed number of trials compared to traditional Monte Carlo sampling.

Latin Hypercube Sampling Differs from Monte Carlo Sampling in That