What decision-making tool provides a way to create a probability distribution of outcomes through the use of computer software that experiments with randomly selected values of inputs?
A) analytical hierarchy process
B) net present value
C) Monte Carlo simulation
D) decision trees

Question

Quizplus · Accepted Answer

Monte Carlo simulation is a decision-making tool that uses computer software to perform experiments with randomly selected values of inputs to create a probability distribution of possible outcomes.

What Decision-Making Tool Provides a Way to Create a Probability