Current Attempt in ProgressAll of the following are disadvantages for using simulation in risk analysis, exceptооооSimulations can be quite time-consuming to formulate.Simulations can be used when analytical solutions are difficult to obtain.Simulations introduce a source of randomness not present in analytical solutions (sampling error).Simulations are so easily applied that they are often used when analytical solutions can be more easily obtained atconsiderably less cost.

Simulation is known to provide a risk analysis by finding out all the uncertainties and also…

All of the following are disadvantages for using simulation in risk analysis, except O Simulations can be quite time-consuming to formulate. O Simulations can be used when analytical solutions are difficult to obtain. O Simulations introduce a source of randomness not present in analytical solutions (sampling error). O Simulations are so easily applied that they are often used when analytical solutions can be more easily obtained at considerably less cost.

All of the following are disadvantages for using simulation in risk analysis, except O Simulations can be quite time-consuming to formulate. O Simulations can be used when analytical solutions are difficult to obtain. O Simulations introduce a source of randomness not present in analytical solutions (sampling error). O Simulations are so easily applied that they are often used when analytical solutions can be more easily obtained at considerably less cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Current Attempt in Progress
All of the following are disadvantages for using simulation in risk analysis, except
оооо
Simulations can be quite time-consuming to formulate.
Simulations can be used when analytical solutions are difficult to obtain.
Simulations introduce a source of randomness not present in analytical solutions (sampling error).
Simulations are so easily applied that they are often used when analytical solutions can be more easily obtained at
considerably less cost.

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