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 29 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?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

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

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Winter distribution of the American crow, Corvus brachyrynchos. Winter distribution of the American crow, Corvus brachyrynchos.
The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da
Distribution of bonding and outer nonbonding electrons in the peptide group Distribution of bonding and outer nonbonding electrons in the peptide group
The Distribution of Pressure The Distribution of Pressure
The Nutritional Needs of School-Aged Children Can Be Guided by MyPlate The Nutritional Needs of School-Aged Children Can Be Guided by MyPlate
ODDS AND PROBABILITY 4 QUESTIONS I NEED IT TPDAY PLEASE ANSWER ALL ODDS AND PROBABILITY 4 QUESTIONS I NEED IT TPDAY PLEASE ANSWER ALL
Video: Hormonal regulation of pregnancy - week 1

For a complete list of videos, visit our video library