Chapter 6. Simulations
Overview
A good way to learn how statistics measure and model a process is to first build an imaginary process, then see how well the statistics see it. Simulation is the word for building an imaginary process; Monte Carlo simulations are simulations done with a random number generator.
Simulations do not have to be complex programs or scripts. As you will see, they can be simple data tables that accrue information repeatedly.
Rolling Dice
A simple example of a Monte Carlo simulation from elementary probability is rolling a six-sided die and recording the results over a long period of time. Of course, it is impractical to physically roll a die repeatedly, so JMP is used to simulate the rolling of the die.
The assumption that ...
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