Effect of the Number of Random Variables on the Precision of the Probability Likelihood Estimation Using Monte Carlo Simulation
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Petr Konecny
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| Transactions of the VSB - Technical University of Ostrava, Civil Engineering Series |
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2009, Volume 9, Issue 1, Pages 173-180
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Doi: Not indexed
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The paper deals with the relationship between the target probability, number of applied random variables and the number of Monte Carlo simulation steps needed to obtain satisfactory results. The precision of probability of failure estimation using crude Monte Carlo simulation is independent on the number of random variables in studied case. Results obtained by Monte Carlo simulation are compared with Direct Determined Probabilistic solution that allows for the fast solution in case of well-mapped tasks.
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