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 these are steps in running a Monte Carlo simulation.

Question

Quizplus · Accepted Answer

All the options listed (A, B, C, D) are indeed steps involved in running a Monte Carlo simulation. These steps are part of the process of modeling the probability of different outcomes in a process that cannot easily be predicted due to the intervention of random variables.

Which of the Following Is NOT a Step in Running