What is the minimum, maximum, mean, and std deviation from the simulation?

Monte carlo simulation | Business & Finance homework help

There are four possible values for the simulation: 0, 2,000, 1000, and 288.57. While the minimum is the lowest value within the set of possible values, the maximum represents the highest number that could be achieved.

The mean is calculated by adding each individual number together before dividing this sum by total amount of entries – in this case 2000 – thus resulting in 1,000 when rounded off appropriately. Finally, the standard deviation indicates how wide these data points are distributed and gives an indication of how accurate it is.

Understanding these terms allows individuals to interpret simulation results accurately, thereby allowing them to make more informed decisions in the long-term. This not only gives the participants a better understanding of their project, but also allows them to obtain more accurate information that will help them achieve their desired goals.

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