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Data Science Fundamentals for Python and MongoDB by David Paper

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© David Paper 2018
David PaperData Science Fundamentals for Python and MongoDBhttps://doi.org/10.1007/978-1-4842-3597-3_2

2. Monte Carlo Simulation and Density Functions

David Paper1 
(1)
Apt 3, Logan, Utah, USA
 

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.

Note

Reader can refer to the download source code file to see color figs in this chapter.

Stock Simulations

The 1st example ...

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