Q: Monte Carlo simulations are useful to include in models when:
or
Q: It is beneficial to incorporate Monte Carlo simulations into models when:
- Stakes are high
- There are many variables with complex interactions
- A small amount of extra precision is valuable
- Manual what-if testing isn’t feasible
Explanation: The other options can also be relevant, but the key strength of Monte Carlo simulations lies in their ability to manage complex, variable-driven models. Therefore, the most direct answer is There are many variables with complex interactions.
