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By Kardi Teknomo, PhD.
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- To use Monte Carlo Simulationis quite simple and straightforward as long as the convergence can be guaranteed by the theory.
- Monte Carlo Simulation may provide statistical sampling for numerical experiment using computer
- For optimization problems, Monte Carlo Simulation often can reach global optimum and overcome local extreme
- Monte Carlo Simulation provides approximate solution to many mathematical problems
- The method can be used for both stochastic (involve probability) and deterministic (without probability).
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Preferable reference for this tutorial is
Teknomo, Kardi. Monte Carlo Simulation Tutorial. http:\\people.revoledu.com\kardi\
tutorial\Simulation\
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