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Predictive & Statistical Analysis Time Remaining 02:04:26 43 Monte Carlo Simulation Put the steps of Monte Carlo in order: Summarize the behavior and dispersion of
Predictive & Statistical Analysis Time Remaining 02:04:26 43 Monte Carlo Simulation Put the steps of Monte Carlo in order: Summarize the behavior and dispersion of each input variable or make assumptions where this is not possible Simulate a future scenario that randomly samples input values from the summarized distributions. Repeat the simulation many times Quantify the results of all the simulations together Collect past observations or data points on each input variable if possible Page 43 Next Page
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