Monte Carlo Simulation

Monte-carlo

Description

The Monte Carlo Simulator application can be used to perform Monte Carlo simulations on user-defined functions. This function can for example be used to simulate processes in engineering, probilistic design, physics, biology, statistics, finance or business.

The user can specify the probability distributions and the associated input parameters for each variable. With this input the application perfoms a Monte Carlo simulation, leading to a graphical output together with some statistical parameters and the probability of failure.

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