What Is a Monte Carlo Simulation

question 3

Essay

What is a Monte Carlo Simulation?

---

Definitions:

Underlying Values

Fundamental beliefs or principles that drive behaviors and decision-making.

Multiple Stakeholders

The involvement of various parties or groups, each with vested interests or concerns, in a particular project, policy, or business operation.

Business Organizations

Formal entities set up for the purpose of conducting trade or providing services with a view to profit.

Ethical Behavior

Actions or practices that adhere to recognized moral principles or standards of conduct.