Monte Carlo simulation is based on assigning a ________ and analyzing the results.

Question

Quizplus · Accepted Answer

Monte Carlo simulation involves assigning a wide range of values to multiple variables simultaneously in order to analyze the results. This allows for a more comprehensive evaluation of the possible outcomes of a project, taking into account the interactions between different variables. Assigning a single value to each variable (choice A) would not capture the potential variability of those factors, and assigning a narrow range of values to a single or two variables (choices C, D, and E) would limit the scope of the analysis.

Monte Carlo Simulation Is Based on Assigning a ________ and Analyzing