April 2019
Beginner to intermediate
1240 pages
45h 43m
English
Content preview from Data Science for Business and Decision Making
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Chapter 20
Simulation and Risk Analysis
Abstract
This chapter introduces what Simulation is, more specifically the Monte Carlo method, which has been used in several fields of knowledge involving decision-making problems that present risks and uncertainties. The Monte Carlo method uses the generation of random numbers to assign values to variables. Through numerical experiments, it is possible to have a better understanding of the behavior of the system under analysis, as well as the forecasting of future scenarios.
Keywords
Simulation of systems; Monte Carlo method; Generation of random numbers; Analysis of risks and uncertainties
Taking the risk of failure, of disappointments, of disillusionments, but never giving up the search for love. ...
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