Uncertainty and risk are issues that virtually every business analyst must deal with, sooner or later. The consequences of not properly estimating and dealing with risk can be devastating. There’s a ...

Vector computers provide a new tool for management scientists. The application of that tool requires thinking in vector mode. This mode is examined in the context of Monte Carlo experiments with ...

Numbers are rather useful. This is unfortunate, because they're also rather confusing. Our brains have a hard time making sense of lists of numbers, so we employ an imaginary friend to help us — the ...

Monte Carlo simulations predict investment risks and returns using computer models. They enable investors to assess outcomes under various market conditions. Accessible tools like online calculators ...

We consider the recently introduced Transformation-based Markov Chain Monte Carlo (TMCMC) (Stat. Methodol. 16 (2014) 100–116), a methodology that is designed to update all the parameters ...

What is a Monte Carlo simulation? A Monte Carlo simulation in investing is like rolling the dice on potential outcomes for your investments. Instead of relying on past performance or gut feelings, ...

The RANDOM= option is used to request Monte Carlo (or stochastic) simulation to generate confidence intervals for a forecast. The confidence intervals are implied by ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...