Statements (50)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
simulation method
|
| gptkbp:advantage |
computationally intensive
flexible modeling handles complex systems results are approximate |
| gptkbp:alsoKnownAs |
gptkb:Monte_Carlo_method
|
| gptkbp:application |
gptkb:machine_learning
option pricing queueing theory radiation therapy project management financial modeling statistical physics particle transport |
| gptkbp:basedOn |
random sampling
|
| gptkbp:category |
gptkb:probability_theory
gptkb:simulation computational mathematics numerical analysis |
| https://www.w3.org/2000/01/rdf-schema#label |
Monte Carlo Simulation
|
| gptkbp:namedAfter |
gptkb:Monte_Carlo,_Monaco
|
| gptkbp:notableFigure |
gptkb:John_von_Neumann
gptkb:Nicholas_Metropolis gptkb:Stanislaw_Ulam |
| gptkbp:originatedIn |
gptkb:Los_Alamos_National_Laboratory
1940s |
| gptkbp:output |
distributions of outcomes
probabilistic estimates |
| gptkbp:purpose |
numerical integration
optimization risk analysis uncertainty quantification |
| gptkbp:relatedTo |
gptkb:Markov_Chain_Monte_Carlo
gptkb:Quasi-Monte_Carlo_method stochastic simulation |
| gptkbp:requires |
generator
|
| gptkbp:step |
aggregate results
define a domain of possible inputs generate random inputs perform deterministic computation |
| gptkbp:usedIn |
gptkb:mathematics
computer science engineering finance physics statistics |
| gptkbp:bfsParent |
gptkb:Project_Risk_Management
gptkb:Measuring_Market_Risk gptkb:Derivatives_Instruments |
| gptkbp:bfsLayer |
7
|