There are four possible outcomes for a Monte Carlo simulation variable (A, B, C, and D). The random numbers 02, 22, 53, and 74 correspond to the variables __________ respectively if each possible outcome has an equivalent chance of occurring.
A) A A C C
B) B B D D
C) A B C D
D) D C B A
E) none of the above

Question

Quizplus · Accepted Answer

The random numbers are divided into four equal ranges: 00-24, 25-49, 50-74, and 75-99. The random numbers 02, 22, 53, and 74 fall into the ranges corresponding to A, A, C, and C, respectively.

There Are Four Possible Outcomes for a Monte Carlo Simulation