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Now in its Sixth Edition, Sheldon Ross’s Simulation continues to introduce aspiring and practicing actuaries, engineers, computer scientists and others to the practical aspects of constructing computerized simulation studies to analyze and interpret real phenomena. Readers learn to apply results of these analyses to problems in a wide variety of fields to obtain effective, accurate solutions and make predictions about future outcomes. By explaining how a computer can be used to generate random numbers and how to use these random numbers to generate the behavior of a stochastic model over time, Ross’s Simulation presents the statistics needed to analyze simulated data as well as that needed for validating the simulation model. Includes updated content throughout Offers a wealth of practice exercises as well as applied use of free software package R Features the author’s well-known, award-winning, and accessible approach to complex information
