A New Approach to Monte Carlo Simulation of Operations

Journal Title: INTERNATIONAL JOURNAL OF ENGINEERING TRENDS AND TECHNOLOGY - Year 2014, Vol 8, Issue 4

Abstract

Monte Carlo simulation are a wide class of computational algorithms that use repeated random sampling to arrive at numerical results. In other words, a simulation is run repeatedly in order to obtain the distribution of an unknown probabilistic entity. In this paper we have proposed a new approach to Monte Carlo simulation of operations thereby optimizing multi -server operations. A case study of a hospital is presented. Besides we have analysed the Monte Carlo methods against the deterministic methods.

Authors and Affiliations

Ankita Bihani

Keywords

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  • EP ID EP141980
  • DOI -
  • Views 79
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How To Cite

Ankita Bihani (2014). A New Approach to Monte Carlo Simulation of Operations. INTERNATIONAL JOURNAL OF ENGINEERING TRENDS AND TECHNOLOGY, 8(4), 218-222. https://europub.co.uk/articles/-A-141980