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Monte Carlo Simulation and Density Functions

  • David Paper
Chapter

Abstract

Monte Carlo simulation (MCS) applies repeated random sampling (randomness) to obtain numerical results for deterministic problem solving. It is widely used in optimization, numerical integration, and risk-based decision making. Probability and cumulative density functions are statistical measures that apply probability distributions for random variables, and can be used in conjunction with MCS to solve deterministic problem.

Copyright information

© David Paper 2018

Authors and Affiliations

  • David Paper
    • 1
  1. 1.Apt 3LoganUSA

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