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Reply: Isn't a Monte Carlo a representation of uncertainty as well as a simulation?

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Topic History of : Isn't a Monte Carlo a representation of uncertainty as well as a simulation?

Max. showing the last 6 posts - (Last post first)
3 years 3 months ago #25216

Harry Elston

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Sharon,

Monte Carlo simulations or experiments are used for three general categories: System optimization, numerical integration and probability. For PMI's purposes and PMP Exam prep, they are used to create a probability distribution of a desired outcome. In that instance, the area around the desired outcome represents the uncertainty of the simulation. Do not get hung up on it, stick with the definition and explanation in the PMBOK Guide.

Harry
3 years 3 months ago #25201

Sharon S

Sharon S's Avatar

Isn't a Monte Carlo a representation of uncertainty as well as a simulation?


Posted in the wrong forum.

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