Q166
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
AnswerC.
Necessary to assign the particular appropriate random numbers
D.
All of the above
Answer: Option B
Solution
Answer: Option B
Solution:
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.