MCQs > Finance & Management > Project Management MCQs > Monte Carlo Simulation MCQs

Monte Carlo Simulation MCQ

A method used to generate trials for a simulation when calculations do not require the results of a previous trial as input is known as:

Answer

Correct Answer: Single-Trial Worksheet (STW) Method

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A method used to generate trials for a simulation is called _______________ .

Answer

Correct Answer: Replication Method

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__________ is a variable used to take the place of a value in a calculation; the variable will be replaced with an actual value when real data is available.

Answer

Correct Answer: Placeholder

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A method for calculating a random value from a probability distribution using the distribution’s inverse cumulative probability function is called:

Answer

Correct Answer: Inverse Transform Method

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