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28 January, 05:52

The approach that further attempts to model real world uncertainty by analyzing projects the way one might analyze gambling strategies is called:A. gambler's approach. B. blackjack approach. C. scenario analysis. D. Monte Carlo simulation. E. sensitivity analysis.

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  1. 28 January, 09:07
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    The approach that further attempts to model real world uncertainty by analyzing projects the way one might analyze gambling strategies is called Monte Carlo simulation.

    The correct answer is D

    Explanation:

    Monte Carlo simulation is an idea of taking random samples from a mathematical model that represents a real life situation. It is an approach that attempts to model real world uncertainty into the evaluation of projects.
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