Monte Carlo Simulation for a Better Job Bid
Lecture no. 23 from the course: Mathematical Decision Making: Predictive Models and Optimization
Taught by Professor Scott P. Stevens | 30 min | Categories: The Great Courses Plus Online Mathematics Courses
Graduate to one of the most versatile and widely used techniques in operations research: simulation, which models the intricate interplay of variables in complicated situations. Focus on a competitive bid for a building project and how simulation can come up with a winning strategy.