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Briefly Discuss the Usefulness of Monte Carlo Simulation in Project

question 7

Essay

Briefly discuss the usefulness of Monte Carlo simulation in project analysis.


Definitions:

Smart Home

A dwelling in which devices and appliances are automated or controlled by apps.

Firmware

A specific class of computer software that provides the low-level control for a device's specific hardware, typically embedded within the device.

Client/Server Network

A network design where client devices request services and resources from centralized server devices.

Peer-to-Peer Network (P2P)

A decentralized network architecture where each participant (or peer) shares a part of their resources directly with other network participants, without the need for centralized coordination.

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