The Monte Carlo simulation technique, named for the famous Monaco gambling resort, originated during World War II as a way to model potential outcomes from a random chain of events. It is particularly ...

Monte Carlo simulations predict investment risks and returns using computer models. They enable investors to assess outcomes under various market conditions. Accessible tools like online calculators ...

Brief review of conditional probability and expectation followed by a study of Markov chains, both discrete and continuous time. Queuing theory, terminology, and single queue systems are studied with ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...

Vector computers provide a new tool for management scientists. The application of that tool requires thinking in vector mode. This mode is examined in the context of Monte Carlo experiments with ...

Taking the topics of a quantitative methodology course and illustrating them through Monte Carlo simulation, Monte Carlo Simulation and Resampling Methods for Social Science, by Thomas M. Carsey and ...