A New Approach to Monte Carlo Simulation of Operations

  IJETT-book-cover  International Journal of Engineering Trends and Technology (IJETT)          
  
© 2014 by IJETT Journal
Volume-8 Number-4                          
Year of Publication : 2014
Authors :  Ankita Bihani
  10.14445/22315381/IJETT-V8P240

Citation 

Ankita Bihani."A New Approach to Monte Carlo Simulation of Operations", International Journal of Engineering Trends and Technology(IJETT), V8(4),218-222 February 2014. ISSN:2231-5381. www.ijettjournal.org. published by seventh sense research group

Abstract

Monte Carlo simulation are a wide class of computational algorithms that use repeated random sampling to arrive at numerical results. In other words, a simulation is run repeatedly in order to obtain the distribution of an unknown probabilistic entity. In this paper we have proposed a new approach to Monte Carlo simulation of operations thereby optimizing multi -server operations. A case study of a hospital is presented. Besides we have analysed the Monte Carlo methods against the deterministic methods.

References

[1] Cameron Browne, Edward Powley, Daniel Whitehouse,Simon Lucas, , Peter I. Cowling, Philipp Rohlfshagen, Stephen Tavener, Diego Perez, Spyridon Samothrakis and Simon Colton,” A Survey of Monte Carlo Tree Search Methods”, IEEE Transactions on Computational Intelligence and in Games, Vol. 4, No. 1, March 2012.
[2] Guillermo Turner-Saad,” Vision for a Risk Adverse Integrated Geometallurgy Framework”, January 2010.
[3] Henry Cheng, Yunhe Hou, and Felix Wu,” Probabilistic wind power generation model: Derivation and applications” International Journal of Energy, Issue 2, Vol. 5, 2011.
[4] Jacques G. Amar,” The Monte Carlo Method in Science and Engineering”, IEEE Copublished by the IEEE CS and the AIP, 2006
[5] James T. Kajiya,” The Rendering Equation”, Dallas, August 18-22, Volume 20, Number 4, 1986.
[6] Jorge Pica, Jerry Hamilton, Randy Burch, Sean Elliot,” Use Of Monte Carlo Simulation At Lockheed Martin”, Proceedings of the 2006 Crystal Ball User Conference.
[7] Peter R. Kramer,” A Review of Some Monte Carlo Simulation Methods for Turbulent Systems”, October 2, 2000.

Keywords
Monte Carlo, optimization, multi queuing, waiting time, service time