-
Monte Carlo Simulation of Temperature for Weather Derivative Pricing
In this online tutorial series dedicated to weather derivatives we have estimated the parameters of our modified mean-reverting Ornstein-Uhlenbeck process which defines our Temperature dynamics, and have now implemented different models for our time varying volatility. Now we move on to simulating temperature paths using Monte Carlo simulation method under the physical probability measure.
Once we have completed these simulation functions we can move onto implementing the Monte Carlo method under the risk-neutral pricing methodology for valuation of our temperature options.
Online written tutorial: https://quantpy.com.au/weather-derivatives/monte-carlo-simulation-of-temperature-for-weather-derivative-pricing/
In this series we take a deep dive into a type of exotic financial products w...
published: 31 Aug 2022
-
What is Monte Carlo Simulation?
Learn more about watsonx: https://ibm.biz/BdvxDh
Monte Carlo Simulation, also known as the Monte Carlo Method or a multiple probability simulation, is a mathematical technique, which is used to estimate the possible outcomes of an uncertain event. Watch master inventor Martin Keen explain how Monte Carlo Simulation may be your closest thing to a time machine - or more simply - how it may be a way to look into the future for making business decisions.
#AI #Software #ITModernization #MonteCarloSimulation #lightboard #IBM
published: 08 Jul 2022
-
2 - Weather Simulation - Monte Carlo Technique - English - #MadhavanSV
How to do simulation about expected rain, rainfall, etc. is explained in this video.
Refer to the below playlist for all related videos of simulation
https://www.youtube.com/playlist?list=PL86hgHi3F9FpSzG331yg3KsKQ1r3C_UuM
published: 12 Jun 2022
-
Problem 5 and 6 on Monte Carlo simulation, 1. Weather forecast (rain) 2. quality control problem
Solve Problems on Monte Carlo simulation on weather forecast and quality control problem.
The occurrence of rain in a city on a day is dependent upon whether or not it rained on previous day . If it rained on previous day , the rain distribution is given by:
Event Probability
If it did not rain the previous day, the rain distribution is given by:
Event Probability
Simulate the city's weather for 10 days and determine by simulation the total days without rain as well as total rainfall during the period. Use the following random no.
67, 63, 39, 55, 29, 78, 70, 06, 78, 76
For simulation assume that for first day of simulation it has not rained the day before.
[R U MBA June 2011 ]
The output of a production line is checked b...
published: 04 Jun 2023
-
Monaco Weather (11-03-18)
A short time lapse of a stormy day in Monaco
published: 11 Mar 2018
-
🌩 #storm #weather #monaco #montecarlo #nature #beautiful #atmosphere #ambience #shorts
published: 26 Feb 2023
-
Monaco Vacation Travel Guide | Expedia
Monaco – What this destination lacks in size, it makes up for in reputation. Join the fairy-tale glamor of this principality with our footage of this spectacular destination.
When ready, browse vacation packages to Monaco: https://www.expedia.com/Monaco.d6050648.Destination-Travel-Guides
Fabulously wealthy and gilded by history, the Principality of #Monaco lies on the French Riviera in Western Europe. Smaller than New York’s Central Park, this graceful destination is bordered by France and the sparkling Mediterranean sea.
With ancient streets full of exotic cars, a natural harbour filled with superyachts and a glittering royal legacy, Monaco is a tiny relic of medieval Europe that has made itself at home in the 21st century. It draws the rich, the famous and those seeking the kind of li...
published: 30 Jun 2017
-
Simulation - 7 - Weather and Rain Forecasts
Playlists on so many various chapters and topics... Subscribe now...
Simulation
Case/Problem:
The occurrence of rain in a region on a day is dependent upon whether it rained on the previous day.
(I) Rain on previous day:
Event: No rain 1 cm 2 cm 3 cm 4 cm 5 cm
Prob: 0.50 0.25 0.15 0.05 0.03 0.02
(II) No rain on previous day
Event: No rain 1 cm 2 cm 3 cm
Prob: 0.75 0.15 0.06 0.04
Simulate the region's weather for 10 days and determine by simulation the total number of days without rain as well as the total rainfall during that period. Use the following random numbers for simulation: 67, 63, 39, 55, 29, 78, 06, 78, 76
Assume that for the first day of the simulation it had not rained the day before.
Monte...
published: 17 Oct 2018
-
monte carlo monaco weather
monte carlo monaco weather
monte carlo monaco weather in december
monte carlo monaco weather in december
monte carlo monaco weather 10 day
monte carlo monaco weather february
published: 26 Jun 2013
-
in Monte Carlo Monaco, weather was good and nice breeze in summer time
this is an old video
published: 22 Mar 2023
16:44
Monte Carlo Simulation of Temperature for Weather Derivative Pricing
In this online tutorial series dedicated to weather derivatives we have estimated the parameters of our modified mean-reverting Ornstein-Uhlenbeck process which...
In this online tutorial series dedicated to weather derivatives we have estimated the parameters of our modified mean-reverting Ornstein-Uhlenbeck process which defines our Temperature dynamics, and have now implemented different models for our time varying volatility. Now we move on to simulating temperature paths using Monte Carlo simulation method under the physical probability measure.
Once we have completed these simulation functions we can move onto implementing the Monte Carlo method under the risk-neutral pricing methodology for valuation of our temperature options.
Online written tutorial: https://quantpy.com.au/weather-derivatives/monte-carlo-simulation-of-temperature-for-weather-derivative-pricing/
In this series we take a deep dive into a type of exotic financial products weather derivatives. Weather derivatives are financial instruments that can be used to reduce risk associated with adverse weather conditions like temperature, rainfall, frost, snow, and wind speeds.
Historical Data, Weather Observations for Sydney, Australia – Observatory Hill: http://www.bom.gov.au/climate/data/stations/
★ ★ Code Available on GitHub ★ ★
GitHub: https://github.com/TheQuantPy
Specific Tutorial Link: https://github.com/TheQuantPy/youtube-tutorials/blob/8e64e19629cee840928b51baf4660e5c777e87e7/2022/003%20Jul-Sep/2022-08-31%20Monte%20Carlo%20Simulation%20of%20Temperature%20for%20Weather%20Derivative%20Pricing.ipynb
★ ★ QuantPy GitHub ★ ★
Collection of resources used on QuantPy YouTube channel. https://github.com/thequantpy
★ ★ Discord Community ★ ★
Join a small niche community of like-minded quants on discord. https://discord.com/invite/aY2Af4CxHP
★ ★ Support our Patreon Community ★ ★
Get access to Jupyter Notebooks that can run in the browser without downloading python.
https://www.patreon.com/quantpy
★ ★ ThetaData API ★ ★
ThetaData's API provides both realtime and historical options data for end-of-day, and intraday trades and quotes. Use coupon 'QPY1' to receive 20% off on your first month.
https://www.thetadata.net/
★ ★ Online Quant Tutorials ★ ★
WEBSITE: https://quantpy.com.au
★ ★ Contact Us ★ ★
EMAIL: pythonforquants@gmail.com
Disclaimer: All ideas, opinions, recommendations and/or forecasts, expressed or implied in this content, are for informational and educational purposes only and should not be construed as financial product advice or an inducement or instruction to invest, trade, and/or speculate in the markets. Any action or refraining from action; investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied in this content, are committed at your own risk an consequence, financial or otherwise. As an affiliate of ThetaData, QuantPy Pty Ltd is compensated for any purchases made through the link provided in this description.
https://wn.com/Monte_Carlo_Simulation_Of_Temperature_For_Weather_Derivative_Pricing
In this online tutorial series dedicated to weather derivatives we have estimated the parameters of our modified mean-reverting Ornstein-Uhlenbeck process which defines our Temperature dynamics, and have now implemented different models for our time varying volatility. Now we move on to simulating temperature paths using Monte Carlo simulation method under the physical probability measure.
Once we have completed these simulation functions we can move onto implementing the Monte Carlo method under the risk-neutral pricing methodology for valuation of our temperature options.
Online written tutorial: https://quantpy.com.au/weather-derivatives/monte-carlo-simulation-of-temperature-for-weather-derivative-pricing/
In this series we take a deep dive into a type of exotic financial products weather derivatives. Weather derivatives are financial instruments that can be used to reduce risk associated with adverse weather conditions like temperature, rainfall, frost, snow, and wind speeds.
Historical Data, Weather Observations for Sydney, Australia – Observatory Hill: http://www.bom.gov.au/climate/data/stations/
★ ★ Code Available on GitHub ★ ★
GitHub: https://github.com/TheQuantPy
Specific Tutorial Link: https://github.com/TheQuantPy/youtube-tutorials/blob/8e64e19629cee840928b51baf4660e5c777e87e7/2022/003%20Jul-Sep/2022-08-31%20Monte%20Carlo%20Simulation%20of%20Temperature%20for%20Weather%20Derivative%20Pricing.ipynb
★ ★ QuantPy GitHub ★ ★
Collection of resources used on QuantPy YouTube channel. https://github.com/thequantpy
★ ★ Discord Community ★ ★
Join a small niche community of like-minded quants on discord. https://discord.com/invite/aY2Af4CxHP
★ ★ Support our Patreon Community ★ ★
Get access to Jupyter Notebooks that can run in the browser without downloading python.
https://www.patreon.com/quantpy
★ ★ ThetaData API ★ ★
ThetaData's API provides both realtime and historical options data for end-of-day, and intraday trades and quotes. Use coupon 'QPY1' to receive 20% off on your first month.
https://www.thetadata.net/
★ ★ Online Quant Tutorials ★ ★
WEBSITE: https://quantpy.com.au
★ ★ Contact Us ★ ★
EMAIL: pythonforquants@gmail.com
Disclaimer: All ideas, opinions, recommendations and/or forecasts, expressed or implied in this content, are for informational and educational purposes only and should not be construed as financial product advice or an inducement or instruction to invest, trade, and/or speculate in the markets. Any action or refraining from action; investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied in this content, are committed at your own risk an consequence, financial or otherwise. As an affiliate of ThetaData, QuantPy Pty Ltd is compensated for any purchases made through the link provided in this description.
- published: 31 Aug 2022
- views: 6841
4:35
What is Monte Carlo Simulation?
Learn more about watsonx: https://ibm.biz/BdvxDh
Monte Carlo Simulation, also known as the Monte Carlo Method or a multiple probability simulation, is a mathem...
Learn more about watsonx: https://ibm.biz/BdvxDh
Monte Carlo Simulation, also known as the Monte Carlo Method or a multiple probability simulation, is a mathematical technique, which is used to estimate the possible outcomes of an uncertain event. Watch master inventor Martin Keen explain how Monte Carlo Simulation may be your closest thing to a time machine - or more simply - how it may be a way to look into the future for making business decisions.
#AI #Software #ITModernization #MonteCarloSimulation #lightboard #IBM
https://wn.com/What_Is_Monte_Carlo_Simulation
Learn more about watsonx: https://ibm.biz/BdvxDh
Monte Carlo Simulation, also known as the Monte Carlo Method or a multiple probability simulation, is a mathematical technique, which is used to estimate the possible outcomes of an uncertain event. Watch master inventor Martin Keen explain how Monte Carlo Simulation may be your closest thing to a time machine - or more simply - how it may be a way to look into the future for making business decisions.
#AI #Software #ITModernization #MonteCarloSimulation #lightboard #IBM
- published: 08 Jul 2022
- views: 193395
7:33
2 - Weather Simulation - Monte Carlo Technique - English - #MadhavanSV
How to do simulation about expected rain, rainfall, etc. is explained in this video.
Refer to the below playlist for all related videos of simulation
https://...
How to do simulation about expected rain, rainfall, etc. is explained in this video.
Refer to the below playlist for all related videos of simulation
https://www.youtube.com/playlist?list=PL86hgHi3F9FpSzG331yg3KsKQ1r3C_UuM
https://wn.com/2_Weather_Simulation_Monte_Carlo_Technique_English_Madhavansv
How to do simulation about expected rain, rainfall, etc. is explained in this video.
Refer to the below playlist for all related videos of simulation
https://www.youtube.com/playlist?list=PL86hgHi3F9FpSzG331yg3KsKQ1r3C_UuM
- published: 12 Jun 2022
- views: 191
19:33
Problem 5 and 6 on Monte Carlo simulation, 1. Weather forecast (rain) 2. quality control problem
Solve Problems on Monte Carlo simulation on weather forecast and quality control problem.
The occurrence of rain in a city on a day is dependent upon wheth...
Solve Problems on Monte Carlo simulation on weather forecast and quality control problem.
The occurrence of rain in a city on a day is dependent upon whether or not it rained on previous day . If it rained on previous day , the rain distribution is given by:
Event Probability
If it did not rain the previous day, the rain distribution is given by:
Event Probability
Simulate the city's weather for 10 days and determine by simulation the total days without rain as well as total rainfall during the period. Use the following random no.
67, 63, 39, 55, 29, 78, 70, 06, 78, 76
For simulation assume that for first day of simulation it has not rained the day before.
[R U MBA June 2011 ]
The output of a production line is checked by an inspector for one or more of three different types of defects, called defect A, B and C. If defect A occurs , the item is scraped. If defect B or C occurs , the item must be reworked. The time required to rework a defect B is 15 minutes and time required to rework a defect C is 30 minutes. The probabilities of an A, B, C defects are 0.15, 0.20 and 0.10 respectively. For 10 items coming off the assembly line , determine the number of items without any defects , the number scrapped and total minutes of rework time.
Use the following random numbers:
Defect A:
defect B :
defect C:
Please refer my following Playlists , Links are given:
1. Theory of Machines or Kinematics of Machines play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DrxC3QlpsjyYOgHI9Ec5IVA
2. Fluid mechanics and Hydraulic machines playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DoqUQjjhaynYe32ZeVvUKVo
3. Refrigeration and air conditioning playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DrLebGuZ_lV58vUeYhCkyAp
4. Renewable Energy engineering or Non-convensional energy sources play list
https://youtube.com/playlist?list=PLhgXtZ1PS2Dq5e4BvIf_GDTHxyQrIRukm
5. Dynamics of Machinery play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DrvJmfpg5HwAYMFaJBC7bDG
6. Engineering graphics or Engineering drawing play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DoMXYrnp2Kg__e_1vYM16OG
7. Engineering Mechanics Playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DpxPFlNBhoWefGJCaJhGMiO
8. Power plant engineering play list
https://youtube.com/playlist?list=PLhgXtZ1PS2Dqvesfm0mh0dpInypziWq5o
9. Engineering Thermodynamics play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DriYv5bnWvoO0eZkW25wTAb
10. Heat and mass transfer play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DrzrhhZ9z6VqJlNrkgVq-rp
11. Operation research play list
https://youtube.com/playlist?list=PLhgXtZ1PS2Do3FMPmZwmJvmx7fGjTy1XX
12. Strength of material playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2Dpdvfcl3NrGSCRvQKGpM_OH
13. Control Engineering/ Control systems engineering playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DqUseTqL94Bn1XNJiXQRFOA
https://wn.com/Problem_5_And_6_On_Monte_Carlo_Simulation,_1._Weather_Forecast_(Rain)_2._Quality_Control_Problem
Solve Problems on Monte Carlo simulation on weather forecast and quality control problem.
The occurrence of rain in a city on a day is dependent upon whether or not it rained on previous day . If it rained on previous day , the rain distribution is given by:
Event Probability
If it did not rain the previous day, the rain distribution is given by:
Event Probability
Simulate the city's weather for 10 days and determine by simulation the total days without rain as well as total rainfall during the period. Use the following random no.
67, 63, 39, 55, 29, 78, 70, 06, 78, 76
For simulation assume that for first day of simulation it has not rained the day before.
[R U MBA June 2011 ]
The output of a production line is checked by an inspector for one or more of three different types of defects, called defect A, B and C. If defect A occurs , the item is scraped. If defect B or C occurs , the item must be reworked. The time required to rework a defect B is 15 minutes and time required to rework a defect C is 30 minutes. The probabilities of an A, B, C defects are 0.15, 0.20 and 0.10 respectively. For 10 items coming off the assembly line , determine the number of items without any defects , the number scrapped and total minutes of rework time.
Use the following random numbers:
Defect A:
defect B :
defect C:
Please refer my following Playlists , Links are given:
1. Theory of Machines or Kinematics of Machines play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DrxC3QlpsjyYOgHI9Ec5IVA
2. Fluid mechanics and Hydraulic machines playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DoqUQjjhaynYe32ZeVvUKVo
3. Refrigeration and air conditioning playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DrLebGuZ_lV58vUeYhCkyAp
4. Renewable Energy engineering or Non-convensional energy sources play list
https://youtube.com/playlist?list=PLhgXtZ1PS2Dq5e4BvIf_GDTHxyQrIRukm
5. Dynamics of Machinery play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DrvJmfpg5HwAYMFaJBC7bDG
6. Engineering graphics or Engineering drawing play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DoMXYrnp2Kg__e_1vYM16OG
7. Engineering Mechanics Playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DpxPFlNBhoWefGJCaJhGMiO
8. Power plant engineering play list
https://youtube.com/playlist?list=PLhgXtZ1PS2Dqvesfm0mh0dpInypziWq5o
9. Engineering Thermodynamics play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DriYv5bnWvoO0eZkW25wTAb
10. Heat and mass transfer play list
https://youtube.com/playlist?list=PLhgXtZ1PS2DrzrhhZ9z6VqJlNrkgVq-rp
11. Operation research play list
https://youtube.com/playlist?list=PLhgXtZ1PS2Do3FMPmZwmJvmx7fGjTy1XX
12. Strength of material playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2Dpdvfcl3NrGSCRvQKGpM_OH
13. Control Engineering/ Control systems engineering playlist
https://youtube.com/playlist?list=PLhgXtZ1PS2DqUseTqL94Bn1XNJiXQRFOA
- published: 04 Jun 2023
- views: 644
1:18
Monaco Weather (11-03-18)
A short time lapse of a stormy day in Monaco
A short time lapse of a stormy day in Monaco
https://wn.com/Monaco_Weather_(11_03_18)
A short time lapse of a stormy day in Monaco
- published: 11 Mar 2018
- views: 637
6:32
Monaco Vacation Travel Guide | Expedia
Monaco – What this destination lacks in size, it makes up for in reputation. Join the fairy-tale glamor of this principality with our footage of this spectacula...
Monaco – What this destination lacks in size, it makes up for in reputation. Join the fairy-tale glamor of this principality with our footage of this spectacular destination.
When ready, browse vacation packages to Monaco: https://www.expedia.com/Monaco.d6050648.Destination-Travel-Guides
Fabulously wealthy and gilded by history, the Principality of #Monaco lies on the French Riviera in Western Europe. Smaller than New York’s Central Park, this graceful destination is bordered by France and the sparkling Mediterranean sea.
With ancient streets full of exotic cars, a natural harbour filled with superyachts and a glittering royal legacy, Monaco is a tiny relic of medieval Europe that has made itself at home in the 21st century. It draws the rich, the famous and those seeking the kind of lifestyle usually only found on the silver screen. A #vacation to Monaco is one to remember!
For now, we hope you enjoy watching this #travel #guide as much as we enjoyed making it.
More travel information around Monaco: https://www.expedia.com/Monaco.dx6050648
Subscribe to Expedia’s YouTube Channel for great travel videos and join the conversation on the best vacation ideas.
---------
Follow us on social media:
FACEBOOK: https://www.facebook.com/expedia
TWITTER: https://twitter.com/Expedia
INSTAGRAM: https://instagram.com/expedia/
PINTEREST: https://www.pinterest.com/expedia
---------
0:00 - Monaco
1:04 - Casino de Monte-Carlo
2:19 - Carre d’Or
2:30 - Old town
2:56 - Princely Palace
3:26 - The Oceanography Museum
4:06 - Hercules Port
4:24 - Monaco Grand Prix
4:47 - Monaco Cathedral
https://wn.com/Monaco_Vacation_Travel_Guide_|_Expedia
Monaco – What this destination lacks in size, it makes up for in reputation. Join the fairy-tale glamor of this principality with our footage of this spectacular destination.
When ready, browse vacation packages to Monaco: https://www.expedia.com/Monaco.d6050648.Destination-Travel-Guides
Fabulously wealthy and gilded by history, the Principality of #Monaco lies on the French Riviera in Western Europe. Smaller than New York’s Central Park, this graceful destination is bordered by France and the sparkling Mediterranean sea.
With ancient streets full of exotic cars, a natural harbour filled with superyachts and a glittering royal legacy, Monaco is a tiny relic of medieval Europe that has made itself at home in the 21st century. It draws the rich, the famous and those seeking the kind of lifestyle usually only found on the silver screen. A #vacation to Monaco is one to remember!
For now, we hope you enjoy watching this #travel #guide as much as we enjoyed making it.
More travel information around Monaco: https://www.expedia.com/Monaco.dx6050648
Subscribe to Expedia’s YouTube Channel for great travel videos and join the conversation on the best vacation ideas.
---------
Follow us on social media:
FACEBOOK: https://www.facebook.com/expedia
TWITTER: https://twitter.com/Expedia
INSTAGRAM: https://instagram.com/expedia/
PINTEREST: https://www.pinterest.com/expedia
---------
0:00 - Monaco
1:04 - Casino de Monte-Carlo
2:19 - Carre d’Or
2:30 - Old town
2:56 - Princely Palace
3:26 - The Oceanography Museum
4:06 - Hercules Port
4:24 - Monaco Grand Prix
4:47 - Monaco Cathedral
- published: 30 Jun 2017
- views: 1780237
14:55
Simulation - 7 - Weather and Rain Forecasts
Playlists on so many various chapters and topics... Subscribe now...
Simulation
Case/Problem:
The occurrence of rain in a region on a day is dependent upon wh...
Playlists on so many various chapters and topics... Subscribe now...
Simulation
Case/Problem:
The occurrence of rain in a region on a day is dependent upon whether it rained on the previous day.
(I) Rain on previous day:
Event: No rain 1 cm 2 cm 3 cm 4 cm 5 cm
Prob: 0.50 0.25 0.15 0.05 0.03 0.02
(II) No rain on previous day
Event: No rain 1 cm 2 cm 3 cm
Prob: 0.75 0.15 0.06 0.04
Simulate the region's weather for 10 days and determine by simulation the total number of days without rain as well as the total rainfall during that period. Use the following random numbers for simulation: 67, 63, 39, 55, 29, 78, 06, 78, 76
Assume that for the first day of the simulation it had not rained the day before.
Monte Carlo Method:
The ‘Monte Carlo’ simulation technique involves conducting repetitive experiments on the model of the system under study, with some known probability distribution to draw random samples (observations) using random numbers. If a system cannot be described by a standard probability distribution such as normal, Poisson, exponential, etc, an empirical probability distribution can be constructed. The Monte Carlo simulation technique consists of the following steps:
(1) Setting up a probability distribution for variables to be analyzed.
(2) Building a cumulative probability distribution for each random variable.
(3) Generating random numbers and then assigning an appropriate set of random numbers to represent value or range (interval) of values for each random variable.
(4) Conducting the simulation experiment using random sampling.
(5) Repeating Step – 4 until the required number of simulation runs has been generated.
(6) Designing and implementing a course of action and maintaining control.
#Simulation #MonteCarlo #OR #OperationsResearch #Statistics #Problems #Solution #FreeLectures #ExamProblems #FreeStudy #Random #WeatherForecast #RainForecast
Simulation, , Monte Carlo, Weather forecast, Rain forecast, OR, Operations Management, Math, Statistics, OM, Operations Management, Random Numbers, Probability, Range, MBA, MCA, CA, CS, CPA, CMA, CWA, BBA, BCA, BCom, MCom, GRE, GMAT, Grade 11, Grade 12, Class 11, Class 12, IAS, CAIIB, FIII, IBPS, BANK PO, UPSC,
- www.prashantpuaar.com
https://wn.com/Simulation_7_Weather_And_Rain_Forecasts
Playlists on so many various chapters and topics... Subscribe now...
Simulation
Case/Problem:
The occurrence of rain in a region on a day is dependent upon whether it rained on the previous day.
(I) Rain on previous day:
Event: No rain 1 cm 2 cm 3 cm 4 cm 5 cm
Prob: 0.50 0.25 0.15 0.05 0.03 0.02
(II) No rain on previous day
Event: No rain 1 cm 2 cm 3 cm
Prob: 0.75 0.15 0.06 0.04
Simulate the region's weather for 10 days and determine by simulation the total number of days without rain as well as the total rainfall during that period. Use the following random numbers for simulation: 67, 63, 39, 55, 29, 78, 06, 78, 76
Assume that for the first day of the simulation it had not rained the day before.
Monte Carlo Method:
The ‘Monte Carlo’ simulation technique involves conducting repetitive experiments on the model of the system under study, with some known probability distribution to draw random samples (observations) using random numbers. If a system cannot be described by a standard probability distribution such as normal, Poisson, exponential, etc, an empirical probability distribution can be constructed. The Monte Carlo simulation technique consists of the following steps:
(1) Setting up a probability distribution for variables to be analyzed.
(2) Building a cumulative probability distribution for each random variable.
(3) Generating random numbers and then assigning an appropriate set of random numbers to represent value or range (interval) of values for each random variable.
(4) Conducting the simulation experiment using random sampling.
(5) Repeating Step – 4 until the required number of simulation runs has been generated.
(6) Designing and implementing a course of action and maintaining control.
#Simulation #MonteCarlo #OR #OperationsResearch #Statistics #Problems #Solution #FreeLectures #ExamProblems #FreeStudy #Random #WeatherForecast #RainForecast
Simulation, , Monte Carlo, Weather forecast, Rain forecast, OR, Operations Management, Math, Statistics, OM, Operations Management, Random Numbers, Probability, Range, MBA, MCA, CA, CS, CPA, CMA, CWA, BBA, BCA, BCom, MCom, GRE, GMAT, Grade 11, Grade 12, Class 11, Class 12, IAS, CAIIB, FIII, IBPS, BANK PO, UPSC,
- www.prashantpuaar.com
- published: 17 Oct 2018
- views: 10276
7:12
monte carlo monaco weather
monte carlo monaco weather
monte carlo monaco weather in december
monte carlo monaco weather in december
monte carlo monaco weather 10 day
monte carlo monaco we...
monte carlo monaco weather
monte carlo monaco weather in december
monte carlo monaco weather in december
monte carlo monaco weather 10 day
monte carlo monaco weather february
https://wn.com/Monte_Carlo_Monaco_Weather
monte carlo monaco weather
monte carlo monaco weather in december
monte carlo monaco weather in december
monte carlo monaco weather 10 day
monte carlo monaco weather february
- published: 26 Jun 2013
- views: 5