Interpreting Monte Caro simulation results
Your team is analyzing project costs for an upcoming initiative. To account for uncertainties, you use a Monte Carlo simulation to predict a range of possible outcomes. The initial estimated cost for the project was $40,000, and the simulation results are visualized in the histogram.
Based on the Monte Carlo simulation results, how does the initial estimated cost compare to the likely project costs?
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Advanced Probability: Uncertainty in Data
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