Ch 2: Simulation in Quantitative Analysis

About This Chapter

Complete the training in this chapter to establish the steps for running quantitative analysis simulations. Measure your understanding of quantitative analysis methodology by answering the questions on the exam at the end of the chapter.

Simulation in Quantitative Analysis - Chapter Summary and Learning Objectives

There is a certain amount of risk involved whenever you make a choice, and the field of quantitative analysis allows you to create simulations that give you the ability to predict which choices are riskier than others. In this chapter, our instructors give you the insider information about using quantitative analysis to further develop your decision-making skills. View the informative video lessons to discover the details concerning these key topics:

  • Building simulations to solve problems
  • The uses of computers during quantitative analysis
  • Random numbers
  • Probability distributions
  • Running both static and dynamic simulations
  • Applying the Monte Carlo simulation

Video Objective
Using Simulation to Analyze and Solve Business Problems Elaborate on how problems can be analyzed through the use of simulations.
The Role of Probability Distributions, Random Numbers & the Computer in Simulations Discuss how computers, probability distributions, and random numbers have an intricate role in the model simulation process.
Static vs. Dynamic Simulation in Quantitative Analysis List the differences between static and dynamic simulation.
The Monte Carlo Simulation: Scope & Common Applications Analyze the Monte Carlo method, show how the method is impacted by randomness, and explain the uses for simulations using the Monte Carlo method.

Final Exam
Business 116: Quantitative Analysis
This course currently has no final exam ready
Chapter Exam

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