What is monte carlo simulation

Assignment Help Mathematics
Reference no: EM131233912

Have a few questions I need help with. Each question needs its own answer and its own reference:

Q1. What key factors of a business situation indicate the need for simulation (versus the other modeling techniques covered in the course).

Q2. What is Monte Carlo Simulation? Where do the name come from? What does it consist of?

Q3. What is the difference between Simulation and modeling? Please explain.

Q4. As our text points out, Simulation has the tendency to be very complicated and expensive in its model creation. How do we handle this? What in your opinion then justifies doing Simulation?

Reference no: EM131233912

Questions Cloud

What is the process capability index for the process : A company making tires for bikes is concerned about the exact width of its cyclocross tires. The company has a lower specification limit of 22.8 mm and an upper specifica- tion limit of 23.2 mm. The standard deviation is 0.15 mm and the mean is 23 mm..
Examine the downturn in the american coal industry : Assignment: We will examine the downturn in the American coal industry by reviewing information concerning market trends, production and other costs, and regulatory headwinds
Work out the present value of tuition payments : Work out the present value of your tuition payments for the next 2 years. - You can borrow capital at an interest rate of 6% per annum.
How much energy is imparted by the lightning strike : How much energy is imparted by the lightning strike? How much energy does it consume in five minutes of continuous operation? How many mugs of tea can this heat? How much would this energy cost using the Pacific Power rate in 2b?
What is monte carlo simulation : Q1. What key factors of a business situation indicate the need for simulation (versus the other modeling techniques covered in the course). Q2. What is Monte Carlo Simulation? Where do the name come from? What does it consist of?
Discuss reference groups that may affect buying behavior : State the specific outcomes and metrics for the organization change ? Discuss reference groups that may affect buying behavior. Be certain to include aspirational, membership and disassociative examples. Discuss social class. How does social class re..
Does amvac have a sustainable business strategy : Does Amvac have a sustainable business strategy? Why or why not?Should the law prohibit Amvac and others from exporting pesticides barred from use in the United States? Why or why not?
Calculate the utilization of the three employees : Calculate the utilization of the three employees. As an effort to improve operations, the manager has cross-trained the frozen drink maker and the Espresso drink maker, i.e., now each of them can make both frozen and espresso drinks. What is the util..
What are some of the major strategies and risks : What are some of the major strategies and risks behind implementing cloud computing programs in today's technology filled world?

Reviews

Write a Review

Mathematics Questions & Answers

  Problems based on compound interest

How many years it will take you to quadruple (means 4 times) your money if you can earn 13.95% each year?

  Find probability of payment before creation of credit policy

Probability of payment before creation of credit policy, Mucklehoney Sports operates a mail-order running shoe business.

  What is the probability that a bill currently on john desk

What is the probability that a bill currently on John's desk will be paid within two days?

  The eigenvalues and eigenfunctions

Solve the following eigenvalue problem for the eigenvalues and eigenfunctions: y'' + λy = 0,

  Find all solutions of the equation z2 3 4i 0 by setting z

a find all solutions of the equation z2 3 4i 0 by setting z a bi for some real numbers a and b.b solve z2 z 1 i

  Find the original price

If the price of an item drops 10 cents per dozen, it becomes possible to buy 2 dozen more items for $6.00 than was possible at the original price. Find the original price.

  Calculate the monthly payment using the factor

Find a home that is for sale in your area (purchase price must be at least $20,000). Include the link that will take the class to the webpage for the home. •You will finance 80% of the purchase price. Using 5% as the interest on your 30-year fixed ra..

  Find out the sample size are large enough perform the

in 2004 a sample of 250 household in ny showed that 62 paid their monthly phone bills by debit card. in 2009 a sample

  What is the probability of e

what is the probability of not drawing a black card which is an Ace, a Two or a Three?

  The expected gains and losses under economic

The expected gains & losses under each economic type of conditions are shown in the following table.

  Fourier series for the function

Determine the fourier series for the function:- F(x) = 2x in the range -pi to pi and are periodic the the period 2pi. Sketch both the expected and fourier series graphs and use mathcad to check

  What is the speed of the plane in still air

A plane flies 430 miles with the wind and 310 miles against the wind in the same length of time. If the speed of the wind is 30mph, what is the speed of the plane in still air?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd