Which of the Following Best Defines Monte Carlo Simulation

question 13

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 seek to group or segment a collection of objects into subsets.
• C)It is the process of selecting values of decision variables that minimize or maximize 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:

Interteam Negotiations

Negotiations that occur between two or more groups or teams, each representing collective interests or objectives.

Solo Negotiations

A negotiation scenario where an individual negotiates on their own behalf without the support of a team or representative.

Research

The systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions.

Exchanging Information

The act of sharing or swapping information between parties to facilitate understanding or cooperation.