NU Monte Carlo Simulation Probability Distribution Used for Data Science Discussion

Write a minimum of 250 words for each of the discussion questions below, and a minimum of 100 words for each reply:

1. Explain how Monte Carlo simulation is used by enterprises in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting. Remember that any proper explanation of a Monte Carlo simulation would involve describing the probability distributions that have been utilized in that simulation.
2. Identify that parts or aspects of Monte Carlo simulation processes that you have found to be particularly challenging. Describe why you believe that they are challenging and provide remedies to simplify those aspects.

In your two replies to classmates, provide ideas, suggestions, and remedies to simplify those aspects of the Monte Carlo simulation processes that they have found to be challenging.

• Initial posts are due by Thursday
• Reply posts are due by Sunday
• Discussions are graded according to the following critical elements:
  • Comprehension (20%)
  • Connections (20%)
  • Engagement (20%)
  • Writing (20%)
  • Research (20%)