This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The choice of the probability distribution for a random variable can be guided by a. an objective ... (Read 27 times)

cool

  • Hero Member
  • *****
  • Posts: 570
on: Jun 24, 2018
The choice of the probability distribution for a random variable can be guided by
 a. an objective function.
  b. likelihood factors.
  c. forecasting.
  d. historical data.

Question 2

The values for random variables in a Monte Carlo simulation are
 a. selected manually.
  b. generated randomly from probability distributions.
  c. taken from forecasting analysis.
  d. derived secondarily using formulas.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mmpiza

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 24, 2018
Answer to Question 1

d
RATIONALE: The analyst can use historical data and knowledge of the random variable to specify the probability distribution.

Answer to Question 2

b
RATIONALE: Instead of manually selecting the values for the random variables, a Monte Carlo simulation randomly generates values for the random variables so that the values used reflect what might be observed in practice.


cool

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jun 24, 2018
Thank you


mmpiza

  • Sr. Member
  • ****
  • Posts: 354
Reply #3 on: Jun 24, 2018
No problemo


« previous next »
 

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

The small-scale distribution of different tree species in a Douglas-fir forest is determined by both The small-scale distribution of different tree species in a Douglas-fir forest is determined by both
Distribution of Aggregate Mining Distribution of Aggregate Mining
Distribution and Forms of Precipitation: Snow Distribution and Forms of Precipitation: Snow
Distribution of the World’s Population Distribution of the World’s Population
Conditional Probability Formulas Conditional Probability Formulas
Population distribution patterns Population distribution patterns
Video: Virtual Enzyme Kinetics & Lineweaver Burk Plot

For a complete list of videos, visit our video library