While assigning random numbers in Monte Carlo simulation, it is?
A. Not necessary to assign the exact range of random number interval as the probability
B. Necessary to develop a cumulative probability distribution
C. Necessary to assign the particular appropriate random numbers
D. All of the above
Answer: Option B
Solution (By Examveda Team)
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.This Question Belongs to Management >> Operations Research
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