Harry Operated a Game Farm in the Suburbs of a Large

question 111

Essay

Harry operated a game farm in the suburbs of a large city. He took all reasonable precautions to keep the animals, some of which were dangerous, within the confines of that game farm. One night, a group of protesters came onto the property and released all the animals as an act of protest against the incarceration of such wild creatures. One of the animals, a cougar, went onto a neighbour's property and killed an expensive show dog. That neighbour sued Harry. Explain the neighbour's likelihood of success.

Learn to define and use different types of variables (assumption, decision, and forecast) in Crystal Ball.

Gain proficiency in setting up and running simulations using Crystal Ball.

Learn to use data tables for Monte Carlo simulations in Excel.

Understand the differences and uses of Monte Carlo and Latin Hypercube sampling.

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Definitions:

Factor Analysis

A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables, called factors.

Myers-Briggs Inventory

A personality assessment tool that categorizes individuals into 16 personality types based on preferences in four dimensions.

Case-study Analysis

A research method involving the detailed examination of a single case or cases, often used in psychology, business, or social sciences.

Greek Theories

Philosophical and scientific ideas originating from ancient Greece, which have significantly influenced Western thought.