Why do we use pseudo-random numbers in simulations
Discuss the below:
Q1-Why do we use pseudo-random numbers in simulations?
Q2-How do pseudo-random numbers affect the accuracy of a simulation?
Q3-What is the role of statistical analysis in simulation?
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Why do we use pseudo-random numbers in simulations?
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An auditor established a $60,000 tolerable misstatement for an asset with an account balance of $1,000,000.
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