Question 5 5 pts The technique of randomly generating values for unknown elements in a model using random sampling is known as O Monte Carlo Simulation O optimization discrete-event simulation simulation gaming inventory modeling Question 6 5 pts John Smith is planning to refinance his home mortgage to take advantage of the lower current interest rates. As part of the refinancing application, the bank needs to appraise Mr. Smith's home. Mr. Smith expects an appraisal of at least $175,000 but no more than $250,000. All values between $175,000 and $250,000 have the same probability of being the actual appraised value. What is the appropriate distribution for simulating appraisal values using the Excel formula =a+(b- a)* RAND()? continuous uniform triangular o binomial discrete uniform exponential Question 7 5 pts To run several replications of a large simulation model in Excel, we use: Data Table a LOOKUP function a NORMINV function Solver