Which of the Following Best Defines Monte Carlo Simulation

question 4

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:

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