Ross, Sheldon M.
Simulation, Second Edition: Programming Methods and Applications (Statistical Modeling and Decision Science)
# ISBN 13: 9780125984102

Replete with easy-to-understand examples ranging from the prediction of home runs in baseball using an hierarchical Bayesian statistics model to estimating the expected return at blackjack using control variables, this text functions as a complete consideration of simulation. Sheldon Ross provides broad yet thorough coverage of the subject, presenting the development of a simulation study to analyze models, and demonstrates that by using random variables and the concept of discrete events, it is possible to generate the behavior of a stochastic model over time. Also discussed are questions concerning when to stop a simulation, how much confidence can be placed in the results, and extensive new information on the presentation of the alias method for generating discrete random variables material not found in any other text. Students, practitioners, and researchers alike will find this text to have an important place in their research libraries.

* Presents the statistics needed to analyze simulated data as well as those needed for validating the simulation model

* Stresses variance reduction, including control variables and their relation to regression analysis

* Includes a chapter on Markov chain monte carlo methods

* Emphasizes the use of computers throughout the text

*"synopsis" may belong to another edition of this title.*

The third edition of Sheldon Ross' best-selling Simulation provides a practical

introduction to constructing computerized simulations for analyzing and interpreting

real phenomena. These simulations are applied to problems in a wide variety of

fields, including actuarial science, engineering, mathematics, and physical sciences,

to obtain effective, accurate solutions.

SIMULATION

Simulation, Third Edition includes new material on the insurance risk model,

generating a random vector, and evaluating an exotic option. Also new is coverage

of the changing nature of statistical methods in practice, as a result of advances in

computing technology.

FEATURES

* Presents the statistics needed to analyze simulated data, as well as for validating

the simulation model.

* Provides applied examples throughout the text such as multiple server queuing

methods, inventory control, and exercising stock options to illustrate and

motivate the theory.

* Stresses variance reduction, including control variables, their use in estimating

the expected return at blackjack, and their relation to regression analysis.

* Includes a chapter on Markov chain Monte Carlo methods.

* Contains unique material on the alias method for generating discrete

random variables.

"...the goals mentioned in the preface are exactly what an actuary would want with

respect to simulation. Knowing how to use simulation to analyze a model, knowing

how to generate values of random variables from different distributions, when to stop

a simulation, etc. are all topics that can be used by actuaries in applications such

as cash flow testing, and are topics that are to be tested on actuarial exams." William B. Frye, Ball State University

Sheldon M. Ross is a professor in the Department of Industrial Engineering and Operations Research at the University of Southern California. He received his Ph.D. in statistics at Stanford University in 1968. He has published many technical articles and textbooks in the areas of statistics and applied probability. Among his texts are A First Course in Probability, Introduction to Probability Models, Stochastic Processes, and Introductory Statistics. Professor Ross is the founding and continuing editor of the journal *Probability in the Engineering and Informational Sciences*. He is a Fellow of the Institute of Mathematical Statistics, and a recipient of the Humboldt US Senior Scientist Award.

*"About this title" may belong to another edition of this title.*

Published by
Academic Press
(1996)

ISBN 10: 0125984103
ISBN 13: 9780125984102

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**Book Description **Academic Press, 1996. Hardcover. Book Condition: New. book. Bookseller Inventory # 0125984103

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Published by
Academic Press
(1996)

ISBN 10: 0125984103
ISBN 13: 9780125984102

New
Hardcover
Quantity Available: 1

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**Book Description **Academic Press, 1996. Hardcover. Book Condition: New. 2. Bookseller Inventory # DADAX0125984103

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Published by
Academic Press
(1996)

ISBN 10: 0125984103
ISBN 13: 9780125984102

New
Hardcover
Quantity Available: 3

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**Book Description **Academic Press, 1996. Hardcover. Book Condition: New. Bookseller Inventory # P110125984103

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ISBN 10: 0125984103
ISBN 13: 9780125984102

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