As Monte Carlo Simulation Is Essentially Statistical Sampling, the Larger

question 1

True/False

As Monte Carlo simulation is essentially statistical sampling, the larger the number of trials used, the more precise is the result.

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Definitions:

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Preferred Hypothesis

A theory or statement that is given precedence due to existing beliefs, biases, or the current frame of reference.

Devil's Advocate Procedure

A technique in which an individual intentionally takes a contrary position or argument to a prevailing idea or strategy, to stimulate critical thinking and test assumptions.

Counterargument Role

A role or approach in discussions or debates where an individual actively develops and presents arguments against a prevailing view or proposition, to test its validity.