The runtime for selected device is not installed error

Question

I am trying to run application using xcode 6 on ios8 simulator but I am getting error \"The runtime for selected device is not installed \".

I have set

Answer 1

After installing Xcode, be sure you "select" it in Terminal, before launching / downloading updates.

ex.

sudo xcode-select -switch /Applications/Xcode6-Beta6.app/Contents/Developer/

Also handy to have around... This command shows your currently selected Xcode version.

sudo xcode-select --print-path