How should one determine which RNGs to employ in a spreadsheet simulation model?
A)Use the Risk Solver Platform (RSP)gallery and pick a distribution.
B)Generate thousands of samples and compare the resulting histogram to ensure the distribution is correct.
C)Solve the deterministic model repeatedly and use Risk Solver Platform (RSP) distribution fitting tools.
D)The distributions selected should represent the underlying pool of values expected to occur.

Question

Quizplus · Accepted Answer

The most appropriate method for selecting RNGs in a spreadsheet simulation model is to select distributions that accurately represent the underlying pool of values that are expected to occur. This requires a thorough understanding of the data and careful consideration of the assumptions and limitations of the chosen distribution. While the other options may provide additional information and guidance, they should be used in conjunction with a broader understanding of the data and the overall model requirements.

How Should One Determine Which RNGs to Employ in a Spreadsheet