Monte Carlo Simulation

Monte Carlo Integration

This video shows how definite integrals can be estimated using Monte Carlo simulation.  A triple integral is estimated using Simulation Master. Other Resources Blog article on Monte Carlo integration. Tutorial on using the Simulation Master integration tool.   For more videos, visit our YouTube channel. Excel is a registered trademark of Microsoft Corporation.  Used with permission …

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Presenting Simulation Results

Presenting the results of a Monte Carlo simulation can be challenging when your audience isn’t inclined to receive probabilistic information.  Decision makers often want a single number for net present value, project completion date, or profit. How do we as the modeler/analyst present this information so it is understood and appreciated for the extra information …

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Optimizing a Design with Monte Carlo Simulation

Performance and cost trade-offs are a constant in engineering design.  Optimizing a design to balance these competing forces can be challenging to quantify and we often have to resort to experience or intuition.  One of the traditional cost drivers is specifying tolerances.  Part dimensions are naturally random variables since each part manufactured will not be …

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