Simulations require a distribution to be specified, like a normal distribution Many times, the exact distribution to be used is unknown, so we have to assume it One argument against using simulations to perform risk analysis is that there is no real benefit because the set of assumptions is simply shifted from assumed parameter values to assumed distributions of parameters So are simulations worth it or not

Question: Simulations require a distribution to be specified, like a normal distribution. Many times, the exact distribution to be used is unknown, so we have to

- Simulations require a distribution to be specified, like a normal distribution. Many times, the exact distribution to be used is unknown, so we have to assume it. One argument against using simulations to perform risk analysis is that there is no real benefit because the set of assumptions is simply shifted from assumed parameter values to assumed distributions of parameters. So are simulations worth it or not?

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Simulations can still be worth it despite the need for assumptions about the distribution Here are a few reasons why 1 Flexibility Simulations allow f... View full answer

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