Monte Carlo Simulation (MCS) is a technique used to explore possible outcomes and their probability. It can be applied in areas such as market sizing, customer lifetime value measurement and can also be used to manage customer relationships.
It involves integrating a number of components to provide a model enabling you to conduct risk analysis. It does so by considering a range of possible outcomes, before calculating how likely it is that each particular outcome will happen.
What do you need in order to run an MCS?
To run a Monte Carlo simulation, a mathematical model of your data is needed – for example, a spreadsheet. Within this data, there must be one or more outputs that you’re interested in measuring, for example profit.
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The Board of SolGold (LSE and TSX code: SOLG) is pleased to advise all shareholders and interested investors of the release of the Company s interim financial results for the half year ended 31 December 2020. The interim financial report is included as part of this announcement. Further, the Board advises shareholders and interested investors that the Company s website also contains access to additional information required to be filed on SEDAR in Canada in connection with the Company s quarterly financial period ended 31 December 2020. This additional information is available in the Financial Reports section of the Investor Centre on the Company s website: www.solgold.com.au
Dubai: The young cadres of Emirati engineers at Mohammed Bin Rashid Space Centre (MBRSC) are confident of a successful Mars orbit insertion (MOI) for Hope Probe on February 9, that will make the UAE only the fifth country or entity in the world to reach Mars.
The Mars orbit insertion (MOI) is the most challenging part of the mission, where precision is key to success. If Hope Probe goes too fast or too slow, it will either crash on Mars or widely miss its orbit and get lost in deep space. Gulf News visited the Emirates Mars Mission (EMM) command centre at MBRSC in Dubai days before the MOI. The mood of the Emirati engineers, scientists and analysts can be described as a mix of excitement, guarded anxiety and cautious confidence.