Explain how Monte Carlo simulation uses random numbers
What will be an ideal response?
First, a cumulative probability distribution is set up for the element being modeled. From this, a set of random number intervals is established. A random number is generated and matched against the set of intervals. The random number will fall into only one interval, and that determines the value for the element being modeled.
You might also like to view...
A primary obligation is a promise to pay another's debt only if that party fails to pay
Indicate whether the statement is true or false
Quantum, Inc declared a $2 per share dividend on October 1. The date of record is October 20th,
the ex-dividend date is October 18th, and the payment date is October 31st. Mitchell owns a share of stock on October 1. Mitchell sells his share to Gene on October 18th, Gene sells the share to Dimitri on October 20th, and Dimitri sells the share to Hank on October 30th. Who will receive the dividend? A) Gene B) Hank C) Mitchell D) Dimitri
In effect, negligent misrepresentation is treated as fraudulent misrepresentation.
Answer the following statement true (T) or false (F)
Which of the following does NOTÂ act as a revocation of a will?
A. creating a codicil B. the testator putting an X through it C. physically destroying the will by intentionally shredding it D. signing a new will that expressly revokes prior wills