Setting Up a Probability Distribution, Building a Cumulative Probability Distribution

question 53

Multiple Choice

Setting up a probability distribution, building a cumulative probability distribution, and generating random numbers are:

• A) necessary when the underlying probability distribution is normal.
• B) three of the five steps in Monte Carlo simulation.
• C) elements of physical simulation but not mathematical simulation.
• D) the elements of the threefold idea behind simulation.
• E) advantages of simulation.

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Definitions:

Moral Action

An action undertaken based on a sense of right and wrong, reflecting ethical considerations and values.

Happiness

A state of well-being and contentment characterized by emotional, psychological, and/or physical fulfillment.

Categorical Imperative

A foundational concept in Kantian ethics that dictates an action is morally required if it is based on a principle that a person would want all others to follow universally.

Universalize

In ethics, the principle of applying a moral judgment or rule to all similar circumstances without exception.