Introduction to Monte Carlo Simulation (January 2024)

This Webinar provides an overview of the Monte Carlo simulation capabilities which are built into GoldSim. Monte Carlo simulation is one of the simulation categories available in GoldSim. The advantage of Monte Carlo simulation is that it provides a way to explicitly deal with uncertainty and to propagate the uncertainty in model inputs to simulated results. Risk is the intentional interaction with uncertainty. Therefore, Monte Carlo simulation provides a route to addressing risk.