This article offers a simple and concise explanation of the Monte Carlo simulation: a technique that combines statistical concepts (random sampling) with the ability of computers to generate pseudo-random numbers and automate calculations. The key to Monte Carlo...
Textbooks Textbooks Bundled with Palisade Software Palisade Software is a Key Component of Many College Textbooks Used at top business schools worldwide, over 60,000 students per year are learning Palisade software through college coursework. The following books...
CEO Message by Randy Heffernan Many who have been exposed to Monte Carlo simulation learned about it in the context of financial modeling such as asset management, cash flow analysis, or actuarial study. And that’s with good reason: The applications of Monte Carlo...
When using @RISK (risk analysis software for conducting Monte Carlo simulations in Microsoft Excel), one of the output graphs is a tornado graph. Such graphs have their most direct interpretation for linear models with independent input distributions, such as in most...
