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 26 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?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

“Career choice” for many women means leaving their paid jobs for a number of years when they ... “Career choice” for many women means leaving their paid jobs for a number of years when they ...
Distribution and Forms of Precipitation: Freezing Rain Distribution and Forms of Precipitation: Freezing Rain
Generalized scheme showing the contribution of absorption, distribution, metabolism, elimination, ... Generalized scheme showing the contribution of absorption, distribution, metabolism, elimination, ...
Biodiversity and the unevenly distribution on the planet Biodiversity and the unevenly distribution on the planet
Discrete random variables- Probability Distribution Function Discrete random variables- Probability Distribution Function
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Video: Griffith's experiments

For a complete list of videos, visit our video library