Monte Carlo method Essays

  • Bayesian analysis for a Class of Beta Mixed Models

    864 Words  | 2 Pages

    There has been an increased interest in the class of Generalized Linear Mixed Models (GLMM) in the last 10 years. One possible reason for such popularity is that GLMM combine Generalized Linear Models (GLM) citep{Nelder1972} with Gaussian random effects, adding flexibility to the models and accommodating complex data structures such as hierarchical, repeated measures, longitudinal, among others which typically induce extra variability and/or dependence. GLMMs can also be viewed as a natural extension

  • Strengths And Weaknesses Of Monte Carlo Simulation

    1426 Words  | 3 Pages

    What is Monte Carlo simulation? Answer: Monte Carlo simulation is a technique that allows people to run simulation many times to obtain numerical results or distribution of an unknown probabilistic entity. It was invented by Stanislaw Ulam in the late 1940s at the Los Alamos National Laboratory and was named after the Monte Carlo Casino where Ulam’s uncle often gambled [1]. Why is it used in analysis (generally)? Answer: Monte Carlo simulation is a very flexible technique and could easily be adapted

  • The Birthday Paradox

    951 Words  | 2 Pages

    Retrieved from http://illuminations.nctm.org/LessonDetail.aspx?id=L299 (“Illuminations,” 2007) Bellows, A. (2014). The Birthday Paradox. Retrieved from http://www.damninteresting.com/the-birthday-paradox/ (Bellows, 2014) Aldag, S. (2007, July 1). A Monte Carlo Simulation of the Birthday Paradox. Retrieved from http://digitalcommons.unl.edu/cgi/viewcontent?article=1027&context= (Stacy, 2007)

  • Simulations

    1602 Words  | 4 Pages

    To return to the learning by doing stage, enter simulations. A simulation is an instructional strategy that offers the opportunity to learn in a realistic environment and practice problem-solving skills without danger. Simulation is a teaching method solidly rooted in statistical evidence that learners retain more information by doing rather than by just reading or listening (Salopek,1998). The first simulation, simulating a battle between two nations, was developed more than 1500 years ago –

  • My Holiday to Europe

    846 Words  | 2 Pages

    Last year my parents had been planning a trip to Europe. We left Melbourne and our journey took us to Doha, Qatar, from there we arrived in Rome and made our way to my Mums town. We then went to my Dads town and then to Sorrento. We went back to my Mums town to have my confirmation and to continue we went to Nice, France. From Nice was Paris, we took a train trip to Germany and then to Austria. We continued our way back to Italy staying in Venice, Florence and then to our last place…Rome. Firstly

  • Single Event Effect Essay

    1781 Words  | 4 Pages

    upset). In addition, the process variation introduced in the fabrication process is also a big challenge for circuit designers because it makes the same circuit show different characteristics. Moreover, to reduce power consumption of the circuit, the method of reducing supply voltage to near threshold region is used, which is anticipated to have more effects on the reliability of the circuit. So the relationship between

  • Product Development Case Study

    1227 Words  | 3 Pages

    The product development process is divided in many stages:- A. Introduction Stage: The enclosed forms and instructions will serve as a guide to obtain approval to pursue new product ideas, product enhancements, or modifications. The process has three approval stages:  Concept Development (new products or modifications)  Product Development  Transition to program launch development B. Concept development Stage The Concept Development stage is intended to include a high-level overview of a new product

  • Ford Motor Company's Transformation

    646 Words  | 2 Pages

    Introduction When Ford Motor Company saw rapidly changing technologies dramatically impacting how the world did business it also recognized that for the organization to remain competitive incorporating these technologies would be critical. The emergence of e-commerce presented an opportunity to improve company structure for information sharing and process changes that could also enhance relationships with suppliers, dealers and customers. This technology would, in the president's words, " allow

  • Risk Of A Highway Project: Risks In Highway Projects

    1025 Words  | 3 Pages

    Traditionally, point estimate method have been used through cost-benefit analysis in order to clarify the uncertainties in a decision planning. Since all projects are vulnerable to degrees of uncertainties concerning cost, schedule and output price, traditional deterministic cost-benefit analysis does not provide sufficient information. Therefore, Monte Carlo simulation method is popularly used to measure the value at risk (VaR). Value-at-risk and the Monte Carlo simulation VaR is a methodology

  • Periodic Table: The Unseen Hero in Human History

    687 Words  | 2 Pages

    element hunting) “a new element [the most] dramatic change on a nuclear level”(105). During this passage Sam uses unbiased language in order to provide for the most credible information. Moving to the Manhattan Project Sam includes the fact that the method being used was highly dependent on calculations. The people doing the calculations were women mostly “scientist wives due to them being bored

  • The Risk Management Process

    1894 Words  | 4 Pages

    of risk. Project managers need to understand the methods used to identify project risks and according to Hilson (2003) and supported by PMBOK (2008), they are a variety of techniques or methods used to identify risk such as brainstorming, interviews from experts, past history, SWOT analysis, and Delphi Technique. These risk identification methods can be done individually or as a group approach ( Hilson, 2003). Brainstorming is an informal method of generating a list of ideas regarding the project

  • The New Science of Risk Management: Value-at-Risk

    1230 Words  | 3 Pages

    given, small probability. 3. A number invented by purveyors of panaceas for pecuniary peril intended to mislead senior management and regulators into a false confidence that market risk is adequately understood and controlled. This is a statistical method used to calculate and specify the level of financial risk within a firm or investment portfolio over a limited time frame. The risk manager's task is to guarantee that risks are not taken beyond the level at which the firm can absorb the losses of

  • Inferential Statistics: Permutation Tests For Nonparametric Data

    2773 Words  | 6 Pages

    Statistics University of West Florida April 2014 Inferential Statistics has two approaches for making inferences about parameters. The first approach is the parametric method. The parametric method either knows or assumes that the data comes from a known type of probability distribution. There are many well-known distributions that parametric methods can be used, such as the Normal distribution, Chi-Square distribution, and the Student T distribution. If the underlying distribution is known, then the data

  • Real Estate Portfolio Valuation: Annotated Bibliography

    1904 Words  | 4 Pages

    The Authors studied why valuation estimates are likely to be biased estimates of market values due to clients' influence. The studies were done on the behaviors of clients in the UK, USA, and New Zealand. The authors pointed out that the information found has made a significant contribution to real estate literature, but the purpose of this research was to examine the prevalence of client influence and the impact on valuation in Nigeria. The survey found that nearly 80 percent of estate surveyors

  • Exploration Feasibility Study of Kansas’s Central Uplift for Intended use in Stochastic Decision Tree Analysis in New Drilling Programs

    2802 Words  | 6 Pages

    production database. The Central Uplift has three main reservoir targets (Pennsylvanian age –Lansing/Kansas City, and Ordovician-Arbuckle). Some fields in the area have been producing since pre-1960s. From a project analysis stand point, decision tree methods aide in assigning value to different outcomes from drilling (i.e. dry hole, excellent or poor well) and incorporates those values to a project worth or NPV (net present value). As a classical approach, deterministic approached utilized discrete values

  • Molecular Docking Essay

    1925 Words  | 4 Pages

    docking is to predict the predominant binding mode(s) of a ligand with a protein of known three-dimensional structure. Successful docking methods search high-dimensional spaces effectively and use a scoring function that correctly ranks candidate dockings. Garrett M. Morris and Marguerita Lim-Wilby, Molecular Docking, In Molecular Modeling of Proteins Methods in Molecular Biology, 2008, Volume 443 Virtual screening of compound libraries has become a standard technology in modern drug discovery pipelines

  • Argumentative Essay On Railguns

    575 Words  | 2 Pages

    Conventional guns, such as cannons, 155 mm howitzers, and multiple-launch rocket system (MLRS), utilise the chemical energy derived by igniting a charge of chemicals (gun powder). The maximum velocity at which the penetrator can be propelled is approximately 1.5-2.0 km/sec. On the other hand, electromagnetic launchers (EML guns), or railguns, use the electrical energy, and the concomitant magnetic field (energy), to propel the penetrators/projectiles at velocities up to 10 km/sec. This increase in

  • Exploring Health Risk Factors: A Causal Mediation Analysis

    792 Words  | 2 Pages

    VanderWeele have proposed an interventional approach to estimate analogues of path-specific effects under no unmeasured confounding assumptions with a regression based approach and a corresponding SAS code 20. However, several limitations of this method are noted. One is that the outcome has to follow an ordinary linear regression model, and that it cannot be adapted to non-linear or generalized linear models. Moreover, unlike the analysis of overall effect, the analytical solutions for all PSEs

  • Data Envelopment Analysis ( Dea )

    819 Words  | 2 Pages

    Data Envelopment Analysis (DEA) Data Envelopment Analysis calculates the best-practice frontier for a given sample using piecewise linear programming. It then indicates the relative inefficiency of other units by measuring the distance between these units and the best practice frontier. These models can be input oriented (seeking to minimize inputs while retaining a constant output) or output oriented (seeking to maximize outputs while holding inputs constant). In this instance outputs would be factors

  • CASA Education Coordinator Position Essay

    703 Words  | 2 Pages

    1. The CASA Education Coordinator position educates CASA volunteers who advocate for children in foster care, youth attending our Court Orientation for Dependent Youth (CODY) events and connected agencies/stakeholders. What experience do you have with curriculum development for adult learners? What knowledge do you possess about the CASA program, child welfare, foster care and the juvenile court? In my current position with Gateway Community College as a Career Navigator it requires me to work with