PLEASE ASSIST __________ The choice of the probability distribution for a random

Question

PLEASE ASSIST __________

The choice of the probability distribution for a random variable can be guided by

likelihood factors.

A __________ analysis involves considering alternative values for the random variables and computing the resulting value for the output.

PLEASE ASSIST __________

The choice of the probability distribution for a random variable can be guided by

an objective function. historical data. forecasting.

likelihood factors.

A __________ analysis involves considering alternative values for the random variables and computing the resulting value for the output.

random what-if cluster risk

Explanation / Answer

Answer: Historical Data

The choice is guided by the past data to project the probability distribution. It is done on the basis of the past analysis.

Answer: Random

The random analysis involves selecting alternatives randomly from a given set of sample and reaching at a result.

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