The Approach That Further Attempts to Model Real World Uncertainty

question 13

Multiple Choice

The approach that further attempts to model real world uncertainty by analyzing projects the way one might analyze gambling strategies is called:

• A) gambler's approach.
• B) blackjack approach.
• C) Monte Carlo simulation.
• D) scenario analysis.
• E) sensitivity analysis.

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Definitions:

Big Data

Large and complex data sets that traditional data processing software cannot adequately handle, requiring advanced methods for storage, analysis, and visualization.

Velocity

The speed of an object in a specific direction.

PaaS

Platform as a Service, a cloud computing model that provides a platform allowing customers to develop, run, and manage applications without dealing with the complexity of building and maintaining the infrastructure.

IaaS

Infrastructure as a Service is a model of cloud computing that delivers virtual computing resources via the internet.