You can't (At least in an Official way).
Taken from XCode Beta 2 Docummentation (Page 7).
Hope it helps.
I have installed latest Xcode 7 beta 2 version, when I am trying to run the application in iOS 7.1 Simulator its giving this error message:
The iOS 7.1 simulator runtime is not available.
Unable to open liblaunch_sim.dylib. Try reinstalling Xcode or the simulator runtime.
Could you please let me know how to resolve this error?
You can't (At least in an Official way).
Taken from XCode Beta 2 Docummentation (Page 7).
Hope it helps.