xplain the term “Monte Carlo Simulation”

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter1: Solving Linear Equations
Section1.5: Rewriting Equations And Formula
Problem 49E
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Explain the term “Monte Carlo Simulation” and explain 3 points on how it is helpful in decision making.

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