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Explain in your own words how Monte Carlo simulation may be useful to a decision maker.

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Explain in your own words how Monte Carlo simulation may be useful to a decision maker.
Monte Carlo simulation
Monte Carlo simulation is a technique used to understand the impact of risk and uncertainty in financial, project management, cost, and other forecasting models. A Monte Carlo simulator helps one visualize most or all of the potential outcomes to...

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Making Hard Decisions with decision tools

Making Hard Decisions with decision tools

ISBN: 978-0538797573

3rd edition

Authors: Robert Clemen, Terence Reilly

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Question Posted: December 22, 2015 02:05:06
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