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How Is Monte Carlo Simulation Used?Monte Carlo simulation is a powerful and widely used technique in Management Science for modeling uncertainty and assessing risk. It allows decision-makers to explore a range of possible outcomes in complex systems where randomness or unpredictability plays a key role. At its core, Monte Carlo simulation works by generating thousands—or even millions—of random scenarios based on...0 Commentarios 0 Acciones 949 Views 0 Vista previa