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 56 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?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Distribution of the gibbons. Distribution of the gibbons.
A typical variable cam timing control valve. The solenoid is controlled by the engine computer and ... A typical variable cam timing control valve. The solenoid is controlled by the engine computer and ...
Movement of a drug through the body (pharmacokinetics): absorption, distribution, metabolism, and ... Movement of a drug through the body (pharmacokinetics): absorption, distribution, metabolism, and ...
A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ... A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ...
Which of the buffers below would be the BEST choice for making a solution capable of buffering ... Which of the buffers below would be the BEST choice for making a solution capable of buffering ...
Distribution Patterns and Population Size Estimates (Bio 30) Distribution Patterns and Population Size Estimates (Bio 30)
Video: Neurotransmission at chemical synapses & Excitory and inhibitory potentials

For a complete list of videos, visit our video library