Monte Carlo Simulation

It's a non-parametric statistical method for simulation of random type. It's based on the possibility to assign extracted values to the variables of the simulation: X1, X2, ..., Xn, ..., given the probability distribution of them F(X), generated in an iterative and random way, thus leading to a sample which, although generated by simulation and therefore not real, it can comply with statistical properties of the investigated variables. Of course, the uncertainty of latter will be lower, the bigger will be the number of iterations

Editor: Giuliano DI TOMMASO

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