Which of the following is a common approach in dealing with uncertainty?

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A Monte Carlo simulation is a common approach used to deal with uncertainty as it involves running multiple simulations with different possible outcomes, taking into account all the possible variables and their potential impacts. It is a powerful tool for risk analysis and decision making under uncertainty. The other options listed (internal rate of return, net present value, and payback period) are financial analysis techniques but do not specifically address uncertainty.

Which of the Following Is a Common Approach in Dealing