CAPM (Certified Associate in Project Management) Practice Exam

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What does modeling and simulation typically use?

Feedback loops
Monte Carlo technique
Linear regression
Analytical models

The correct answer is: Monte Carlo technique

Modeling and simulation typically use the Monte Carlo technique to analyze and understand the impact of risk and uncertainty in project management. The Monte Carlo technique is useful for generating random variables to calculate the probability of different project outcomes. This method allows for a more comprehensive analysis of potential project scenarios and assists in making informed decisions based on the range of possible outcomes. Feedback loops, linear regression, and analytical models are also tools used in project management, but they are not as commonly associated with modeling and simulation techniques as the Monte Carlo method.