Numbers are rather useful. This is unfortunate, because they're also rather confusing. Our brains have a hard time making sense of lists of numbers, so we employ an imaginary friend to help us — the ...

Unlock the full InfoQ experience by logging in! Stay updated with your favorite authors and topics, engage with content, and download exclusive resources. This article dives into the happens-before ...

Vector computers provide a new tool for management scientists. The application of that tool requires thinking in vector mode. This mode is examined in the context of Monte Carlo experiments with ...

Monte Carlo simulations predict investment risks and rewards using varied scenarios. You can operate Monte Carlo simulations with tools like online calculators and spreadsheets. These simulations aid ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...

As a financial advisor, I’ve had the pleasure of helping many clients comfortably reach and enjoy their retirement years. During my career, a few consistent themes have emerged. Clients generally want ...

This will likely come as a surprise, but the way engineers perform Monte Carlo analysis and assess the results, is likely incorrect. Misinterpreting Monte Carlo results can lead to the wrong technical ...

Worst-case scenario simulations ensure manufacturing is prepared for all contingencies, but over-sizing or under-sizing may ensue. This results in larger than necessary filters and columns that may ...