The Monte Carlo simulation is also known as
A) stochastic & probabilistic.
B) stochastic & deterministic.
C) deterministic.
D) probabilistic & deterministic.

Question

Quizplus · Accepted Answer

The Monte Carlo simulation is known as stochastic (involving a random variable) and probabilistic (involving the theory of probability) because it uses randomness and probability to simulate complex systems and predict outcomes.

The Monte Carlo Simulation Is Also Known as