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It is used to represent values that don’t go below zero but have unlimited positive potential.

It is symmetric and describes many natural phenomena such as people’s heights.Variables that could be described by a triangular distribution include past sales history per unit of time and inventory levels.The user defines the minimum, most likely, and maximum values, just like the triangular distribution.Monte Carlo simulation (also known as the Monte Carlo Method) lets you see all the possible outcomes of your decisions and assess the impact of risk, allowing for better decision making under uncertainty.Monte Carlo simulation is a computerized mathematical technique that allows people to account for risk in quantitative analysis and decision making.

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