True, Monte Carlo simulation is used for statistical sampling where larger number of trials are used for the precise result.
Step by Step Explanation:
- Monte Carlo simulation is a mathematical technique or statistical sampling which is used to predict all possible outcomes of any uncertain event.
- The larger the number of trials more is the accuracy as it is based on the past data to predict the future outcomes.
- example : For the prediction of first month sale of any new launch product you can revise more number of old data.
- It help to calculate probability more accurately.
Therefore, it is true to have more number of trials in Monte Carlo simulation statistical sampling for precise result.
Learn more about statistical sampling here
brainly.com/question/29490427
#SPJ4
