Which of the Following Best Defines Monte Carlo Simulation

question 9

Multiple Choice

Which of the following best defines Monte Carlo simulation?

• A) It is a tool for building statistical models that characterize relationships among a dependent variable and one or more independent variables.
• B) It is a collection of techniques that seeks to group or segment a collection of objects into subsets.
• C) It is the process of selecting values of decision variables that minimizes or maximizes some quantity of interest.
• D) It is the process of generating random values for uncertain inputs in a model and computing the output variables of interest.

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Definitions:

Social Anxiety

A feeling of unease, worry, or fear about social situations, often driven by a fear of being judged or embarrassed by others.

Psychological Disorders

Mental disorders that significantly affect one's ability to perform daily activities and interact socially, often characterized by abnormal thoughts, feelings, or behaviors.

Live

To continue to be alive or have life; to experience existence or the various aspects of life through actions, thoughts, or feelings.

Cognitive Error

Mistakes in reasoning, evaluating, remembering, or other cognitive processes, often leading to biases or distorted judgments.