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How to use Monte Carlo simulation to distinguish between base - case, worst - case, and best - case scenarios in decision making with uncertainty?
How to use Monte Carlo simulation to distinguish between basecase, worstcase, and bestcase scenarios in decision making with uncertainty?
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Using statistical analysis to determine the probability of each scenario
Relying on expert opinions to predict the most likely outcome
Calculating the average, minimum, and maximum results from multiple simulations
Using a set of predetermined scenarios to model different outcomes
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