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The project team is performing a quantitative risk analysis using Monte Carlo simulator. All of the following statements about Monte Carlo analysis are true EXCEPT:
Monte Carlo analysis involves determining the impact of the identified risks by running simulations to identify the range of possible outcomes for a number of scenarios.
Monte Carlo analysis usually expresses its results as probability distributions of possible costs.
Monte Carlo analysis is a modeling technique that computes project costs one time.
Monte Carlo analysis translates the uncertainties specified at a detailed level into their potential impact on project objectives at the level of the whole project.