September 2018
Intermediate to advanced
288 pages
7h 38m
English
In everyday life, we often need to know the probability of a certain event, but there are too many variables that influence it and it is not possible to perform analytical calculations. The solution to this problem requires the use of simulated sampling methods, that is, simulating the situation in which the probability of a certain event is to be calculated. Stochastic simulation is carried out by reproducing the mechanism, replacing an analytical—difficult to carry out—with an empirical observation of the phenomenon and taking from it information that is not analytically detectable. This simulation is called the Monte Carlo method.
So, the Monte Carlo method consists of looking for the solution ...
Read now
Unlock full access