Many problems in the theory of probability and statistics can be solved by evaluating coefficients in generating function, or, for continuous differentiable distributions, by an analogous process with ...

Learn how to calculate Value at Risk (VaR) to effectively assess financial risks in portfolios, using historical, variance-covariance, and Monte Carlo methods.

The Role of Probability Distribution in Business Management. Future events are far from certain in the business world. This is especially true for smaller businesses, which tend to have more ...

The probability distributions produced by a Monte Carlo model create a picture of risk. That picture is an effective way to convey the results to others, such as superiors or prospective investors.

Quantitative stability of optimal values and solution sets to stochastic programming problems is studied when the underlying probability distribution varies in some metric space of probability ...

For aerospace and automotive WCCA, you can perform Monte Carlo analysis using one of two methods: Tolerance Intervals for Normal Distributions, where the result is the mean +/- some number of sigma, ...