Ask your own question, for FREE!
Mathematics
OpenStudy (anonymous):

mathematicians! what is monte carlo simulation?

OpenStudy (anonymous):

Monte Carlo basically turns deterministic into probabilistic via the use of random numbers.

OpenStudy (anonymous):

so is this method reliable in business forecasting,say introducing new product to the market?

OpenStudy (anonymous):

This is not math question specifically but I would have said traditional methods are better (market research). Your questions are far too general for this forum, I suggest u read up on the subject here, for example http://en.wikipedia.org/wiki/Monte_Carlo_method If u would like to discuss, say Monte Carlo integration or other mathematical use, we can do that.

OpenStudy (anonymous):

Here is a place for u to examine your new product scenario http://www.vertex42.com/ExcelArticles/mc/SalesForecast.html

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!