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While assigning random numbers in Monte Carlo simulation it is

This question belongs to Management Operations Research
Operations Research
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While assigning random numbers in Monte Carlo simulation, it is?

Answer & Solution
Correct Answer: Option B
While assigning random numbers in Monte Carlo simulation, it is Necessary to develop a cumulative probability distribution. A cumulative probability refers to the probability that the value of a random variable falls within a specified range. Frequently, cumulative probabilities refer to the probability that a random variable is less than or equal to a specified value.
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