Timeline for Why is the term "Monte Carlo simulation" used instead of "Random simulation"?
Current License: CC BY-SA 3.0
4 events
| when toggle format | what | by | license | comment | |
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| Dec 28, 2017 at 18:51 | comment | added | Michael R. Chernick | Inputs are known but as Space Monkey notes the outcomes are not. Sometimes Monte Carlo has been used to "confirm" conjectures. | |
| Dec 28, 2017 at 17:41 | comment | added | SpaceMonkey | just adding something here: "effective at predicting the outcomes of processes where the distribution of possible results is known", that is not true because if the distribution was already known, you wouldn't need an estimation of the outcome, you would calculate it exactly (which is what we did + use simulation to verify the model). The simulation gives you the distribution as well as the the expected outcomes (with a confidence interval), all you need is the mechanics of the game. | |
| Dec 28, 2017 at 17:14 | review | First posts | |||
| Dec 28, 2017 at 18:51 | |||||
| Dec 28, 2017 at 17:11 | history | answered | M. Langdon | CC BY-SA 3.0 |