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Hello Sir, kindly help me out with this kaplan MCQ
The Answer to which is ”False” for the following statement
”Simulation exercise assesses the likelihood of a variable changing”
My concern is that, why isnt it true? ..Does simulation analysis not consider the relative probabilities by assigning the same proportion of random numbers to a variable so that does mean to assess the likelihood of the project variable changing, yeah?
Please clarifyyyy….
Although the analysis makes use of the probabilities, it is not the simulation exercise that does the calculation of the probabilities of each variable changing. The exercise looks at the overall result given that all of the variables will be changing.
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