Chapter 5: Monte Carlo Simulations
A Parallel Program with Partitions
In this chapter, we briefly introduce Monte Carlo simulations. Monte Carlo simulations are an important tool in many disciplines, including finance, manufacturing, and physics. Broadly defined, Monte Carlo simulations are a class of algorithms that rely on random samplings to estimate stochastic and deterministic values. Monte Carlo simulations are especially valuable when a closed-form solution is not available.
By the end of this chapter, you will understand Monte Carlo simulations, random walks, and how to run simulations at scale with SAS.
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