Question: Monte Carlo simulation has its origin in physics. However, it has been used in a variety of fields. Explain why Monte Carlo simulation is widely

  1. Monte Carlo simulation has its origin in physics. However, it has been used in a variety of fields. Explain why Monte Carlo simulation is widely used in finance. Give one example of an application of Monte Carlo simulation in the field of finance.

  1. List and discuss the desirable properties of a random number generator.

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