Question: What is the first step in a Monte Carlo analysis? options: a) For each variable, such as time estimate for a task, select a random

What is the first step in a Monte Carlo analysis?

options:

a) For each variable, such as time estimate for a task, select a random value based on the probability distribution for the occurrence of the variable.

b) Collect the most likely, optimistic, and pessimistic estimates for the variables in the model.

c) Run a deterministic analysis or one pass through the model using the combination of values selected for each one of the variables.

d) Determine the probability distribution of each variable

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