Why does GuidedChoice use Monte Carlo Simulations?

We use Monte Carlo simulations to avoid what Sam Savage calls the “Flaw of Averages.” The Flaw of Averages refers to decision making based only on an average result, without considering the distribution of possible results. Conservatively, roughly half the outcomes will be worse than average, so by using Monte Carlo simulation we have a more realistic picture to inform your plan. Learn more about our process here.

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