1. What is meant by risk? What does risk analysis aim to do? 2. What is a Monte

1. What is meant by risk? What does risk analysis aim to do? 2. What is a Monte Carlo simulation? How is it helpful in the analysis of risk? 3. Explain the terms assumption, forecast, and decision as used in Crystal Ball. 4. How do we define uncertain model inputs in Crystal Ball? 5. Explain the types of charts that Crystal Ball provides for analyzing simulation results and how they may be used to provide useful information to a decision maker. 6. How can an analyst obtain the sampling distributions of standard descriptive statistical measures such as mean, median, variance, standard deviation, etc. in Crystal Ball?

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