Business & Finance homework help

1) what is a Monte Carlo Simulation used for?
2)In what fields is the Monte Carlo simulation used?
3)who or what/why is the Monte Carlo simulation named after?
4)The Monte Carlo Simulation is also referred to as multiple probability simulation. Business & Finance homework help

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True or false?
5)The Monte Carlo Simulation is technique used to understand the impact of the risk and uncertainty in prediction and forecasting.
True or false?
6)Explain how a Monte carlo Simulation model can help you determine your optimal production capacity. Provide an example based on your business (I will provide on chat about my business) 250 words.

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