A ___________ uses repeated random sampling to represent uncertainty in a model representing a real system and that computes the values of model outputs.
A)Monte Carlo simulation
B)what-if analysis
C)deterministic model
D)discrete event simulation

Question

Quizplus · Accepted Answer

Monte Carlo simulation uses random sampling to estimate uncertain factors in a model and generates a range of possible outputs. This is useful in decision-making processes where there are multiple possible outcomes and probabilities associated with each outcome.

A ___________ Uses Repeated Random Sampling to Represent Uncertainty in a Model