Quasi-Monte Carlo method

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  • The K-Prototypes Method Essay

    1338 Words  | 6 Pages

    2.1 The k-Prototypes Method Data clustering is a method used to group items into different clusters. The items in same cluster are similar and the items in different clusters are dissimilar. Huang (1998) introduced a k-prototypes algorithm that allows for clustering objects with mixed numeric and categorical attributes. The k-prototype algorithm can be used to cluster a large portfolio of the VA contracts with mixed numeric and categorical attributes. We define a large portfolio that contains n

  • Marketing Analytics And The Other Job Roles

    1256 Words  | 6 Pages

    to1Gartner (2013) „Business analyticsis comprised of solutions used to build analysis models and simulations to create scenarios, understand realities and predict future states.” So in summary we are using many types of analytical and statistical methods to transform the raw data into a shape where we can get information from it, and get a conclusion. Based onthese informationand conclusions we will be able to make business decisions, which might affect the future success. Regarding the Business Analytics

  • Designing A Representative Model Of Real World Environments

    968 Words  | 4 Pages

    Most of the previous types of simulations and simulators referenced evaluating methods and effective practices. In the distant past technological advancement in the form of medical training mannequins or board games were the bulk of technology based simulators. With the growth of the computer industry, we are naturally increasing our use of computerized technology. Simulation is absolutely no exception to this. Computer simulations have become one of the greatest and most common ways of creating

  • The Behavior Of Binary Alloys

    3770 Words  | 16 Pages

    Abstract The behavior of binary alloys was investigated by the Metropolis Monte Carlo Simulations in Matlab. Temperatures, alloy concentrations and interaction parameters are variables being varied in this simulation. Increases in temperature led to an increase in entropy as well as a decrease in relative correlation of orders. The entropy and enthalpy of mixing both were affected by the alloy concentration, with a maximum of 50%. Lastly, the interaction parameter defined the type of bonds that were

  • Decision-Making Models Essay

    959 Words  | 4 Pages

    create difficulties, I created a pessimistic estimate of 47 hours. Assuming flawless execution with no complications, I have created an optimistic estimate of 25 hours. The PERT formula calculates the estimated level of effort at 32 hours. The Monte Carlo

  • What I Have Majored And Systems Engineering ( Ise ) For One And A Half Years At Virginia Tech

    1114 Words  | 5 Pages

    vacation, I found that the Travelling Salesman Problem were so similar to problems we met at Tibet. Got inspired by the algorithms, I designed a project named Application of OR Methods to Education Volunteering. This project used Ant Colony Optimization to optimize home visiting routes covering 8 villages, Hungarian method to appoint 14 teachers to different courses, and Program Evaluation and Review Technique to

  • Queuing Theory : Queuing Systems

    1048 Words  | 5 Pages

    the waiting list and the service facility (Render et al, 2015). A simulation modeling process is based mainly on feeding the quantitative data into a model to produce quantitative results in a structured sequential process (Eldabi, 2002). This method assists managers by allowing them the opportunity to create a simulation model to see the various advantages and disadvantages of any changes they would like to integrate into their

  • Advantages Of Simulation Modelling

    1316 Words  | 6 Pages

    Simulation modelling is the procedure of developing and analysing a prototype of a physical model to predict its behaviour and performance in real-world or over time. A model represents the system itself and the simulation represents the operation of the system over a specified time period. It can be used to show the effects of possible conditions and the sequence of action. Modelling and simulation helps obtaining information about how a system will perform without testing it in real life. It shows

  • Statewide Corporation

    1175 Words  | 5 Pages

    install the new part. g) The cost of salary and benefits for a maintenance person is $20 per hour. IV. Alternative approaches to solving the problem: Based on the given case and the problems cited, the best approach to use is the Monte Carlo

  • Ss3150 Hwk Week 1

    1278 Words  | 6 Pages

    Webquest Handout Task 1: 1. The research methods knowledge database is a database of generalized topics about performing social research. These vary from how to collect data, who to collect data from, where to collect the data, etc. a. What is the difference between qualitative data and quantitative data? How do you determine what type of data to collect? Can your topic be represented by solid numbers, or is it based on opinion? 2. Quantitative because the data given is concrete

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