What is Monte Carlo simulation? #vosesoftware, #riskmodelling, #statistics

Vose Software

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Successful use of risk modelling and simulations in public private partnerships – Yehuda Sapir

https://2020.riskawarenessweek.com/talks/successful-use-of-risk-modelling-and-simulations-in-public-private-partnerships/ Civil engineering mega projects hardly exercises efficient and effective risk…

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RAW2020: Successful use of risk modelling and simulations in public private partnerships – Yehuda Sapir

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Value of Information to learn the concept plus modeling in SIPmath #decisionscience, #decisionmaking, #sipmath, #brianputt

Value of Information to learn the concept plus modeling in SIPmath

Discusses the decision of whether to buy an umbrella or to gather information before doing so. Discusses the results and also the sensitivity of the decision…

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Value of Information With Decision Trees and Simulation #decisionscience, #decisionmaking, #sipmath, #brianputt

Value of Information With Decision Trees and Simulation

Learn the basics of value of information using a medical decision whether to get information. Solve the problem using a decision tree and then simulation. Co…

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Decision Analysis with Simulation #decisionscience, #decisionmaking, #sipmath, #brianputt

Decision Analysis with Simulation

Demonstrates a straight forward DA analysis using simulation using SIPmath tool examining alternatives for traveling to the airport. Sensitivity is examined …

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Do you too get a sense that McKinsey have never heard about monte-carlo simulations? The answer is not a better deterministic model, the answer is a stochastic model )

Demystifying modeling: How quantitative models can–and can’t–explain the world

The COVID-19 crisis has brought quantitative models to the forefront. Here are some ways that modeling helps us–as long as we avoid its pitfalls.

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Let’s Make a Deal – Simulation Solution #decisionscience, #decisionmaking, #sipmath, #brianputt

Let’s Make a Deal – Simulation Solution

Describe how to use simulation to evaluate the Let's Make a Deal Paradox. Look at different decision policies using SIPmath simulation.

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