Which of the Following Is Not a Step in Running

question 6

Multiple Choice

Which of the following is not a step in running a Monte Carlo simulation?

• A) setting up a probability distribution for important variables
• B) building a cumulative probability distribution for each variable
• C) establishing an interval of random numbers for each variable
• D) generating random numbers
• E) All of the above are steps in running a Monte Carlo simulation.

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Definitions:

Participatory Planning

A planning approach that actively involves all stakeholders in the decision-making process, ensuring their opinions and needs are considered in the development of plans and policies.

Planning Process

An orderly sequence of steps that helps individuals or organizations decide on and achieve their goals.

Effective Management Planning

The process of setting goals, developing strategies, and outlining tasks and schedules to achieve the desired objective efficiently.

Participation And Involvement

The act of taking part or becoming actively engaged in a particular activity, process, or decision-making, typically aiming for a collective goal.