I am trying to find the best way to conduct a risk-based regression study. I have distribution data for both X and Y and used a monte-carlo sampling of the distributions to generate a data set. I then conduct an OLS regression on this data.
I discussed this approach to a college who told me its a waste of time doing this as random inputs would only generate random outputs. Is he right about this and the approach is not useful in anyway?
Any advice would be great.