Question

1. what method uses repeated random sampling to estimate the probability of various outcomes?

a. monte carlo simulations
b. risk analysis
c. bayesian thinking
d. expected outcomes calculation

Explanation:

Monte Carlo Simulations use repeated random sampling to estimate probabilities. Risk Analysis focuses on identifying and assessing risks. Bayesian Thinking updates probabilities based on new evidence. Expected Outcomes Calculation computes the average outcome.

Answer:

A. Monte Carlo Simulations