Monte Carlo, an old gambling concept, could have a future in healthcare as an approach to data analytics that allows managers to crunch vast amounts of data in order to support fiscally prudent ...
Monte Carlo simulation is a mathematical technique for considering the effect of uncertainty on investing as well as many other activities. A Monte Carlo simulation shows a large number and variety of ...
You're currently following this author! Want to unfollow? Unsubscribe via the link in your email. Follow Andy Kiersz Every time Andy publishes a story, you’ll get an alert straight to your inbox!
Important events sometimes occur with too little notice. Occasionally, even a monumental development can escape adequate attention. An example of this occurred on Jan. 9. That day saw a historic ...
Bob’s financial advisor just ran a “Monte Carlo analysis” for him.What’s a “Monte Carlo analysis”?It’s a tool used to test how a person’s retirement savings and plan would hold up given a variety of ...
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 ...
Some results have been hidden because they may be inaccessible to you
Show inaccessible results
Feedback