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You don't need a monte carlo simulation if you have a known distribution. You can just add the means and variances and solve the equation rather than approximat
by JDDunn9 5y ago
You don't need a monte carlo simulation if you have a known distribution. You can just add the means and variances and solve the equation rather than approximating it with a simulation. Monte carlo is more useful when drawing from an unknown distribution.
- jacques_chester 5y agoMy understanding is that while the normal distribution is friendly to simple manipulation, a lot of distributions aren't. Not being a statistician I couldn't tell you why or which.