In a simulation process, the error of the estimates of the output can be reduced by
A)increasing the range of possible values for the random variables.
B)increasing the number of random variables.
C)increasing the number of trials per simulation.
D)conducting regression analysis to forecast values.

Question

Quizplus · Accepted Answer

By increasing the number of trials per simulation, we can obtain more samples of the output variable, reducing the error in the estimates. Increasing the range of possible values for the random variables or increasing the number of random variables may not necessarily reduce the error in the estimates. Conducting regression analysis is a separate method for estimating relationships between variables and may not directly reduce error in simulation output estimates.

In a Simulation Process, the Error of the Estimates of the Output