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  • Book

  • Authors : Saidi Bidokhti, Pooneh (2019)

  • The Monte Carlo method is a numerical technique to model the probability of all possible outcomes in a process that cannot easily be predicted due to the interference of random variables. It is a technique used to understand the impact of uncertainty, ambiguity, and risk in forecasting models. This book is organized into three sections and presents the general principles of the Monte Carlo method with an emphasis on techniques to decr...