QUESTION 3 Simulation analysis can best be described as... determining the distribution of NPV estimates through iterating through a large number of scenario analyses. the determination of what happens to NPV estimates when we ask 'what if'. investigation of what happens to NPV when there is a marginal change in one variable. QUESTION 4 What is an example of a question that would be answered as part of a scenario analysis? What is the most likely range of NPV outcomes? What is the impact on NPV of the tax rate changing by 10%. What is the impact on NPV in the worst case, where our sales drop, costs rise, and tax increases