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

As mentioned in the Xcode 6 release notes, you will not be able to use the iOs Simulator if you rename Xcode.app after launching it. Currently, the workaround is to just rename it back or reboot.