Question: 2 0 . The average values for the uncertain inputs cannot be used in a decision model and therefore, the need for Monte Carlo simulation
The average values for the uncertain inputs cannot be used in a decision model and therefore, the need for Monte Carlo simulation cannot be eliminated. This phenomenon is called the which states that the evaluation of a model output using the average value of the input is not necessarily equal to the average value of the outputs when evaluated with each of the input values.
a random variate
b flaw of averages
c risk analysis
d All of the above
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