Product Maturity 1 by Franck Bayle
Author:Franck Bayle [Bayle, Franck]
Language: eng
Format: epub
ISBN: 9781119902225
Published: 2022-03-04T00:00:00+00:00
5.1.3. Monte-Carlo analysis
A more realistic approach involves a less restrictive type of analysis than the worst-case method, and this can be achieved by implementing a Monte-Carlo approach. The variable of interest is then modeled by a random variable according to a given probability distribution. Monte-Carlo simulation involves the random âdrawâ of values of the variable of interest according to the probability distribution considered. Often, 1,000 random values are a good compromise between accuracy on the bounds of the interval of values obtained, and the simulation calculation time.
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