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A probablistic simulation, or Monte Carlo simulation is used to calculate the risk or uncertainty in simulation results from uncertainty/variability in the simulation inputs (parameters)).

Instead of running one simulation, many simulations are run where the parameter values are randomized to cover as many combinations of parameter values as possible.

The information available about an uncertain parameter is described using a probability density function.

See also

probabilistic_simulation.txt · Last modified: 2014/06/09 12:01 (external edit)