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Georgia Institute Of Technology - ISYE 30445. Basics Of Spreadsheet Simulation I

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The Basics of Spreadsheet Simulation Part I ISyE 3044 Simulation Analysis and Design Spring 2016 Jinha LeeHow to Simulate • Randomness – Generating any random quantity begins with generating ... a random number in the interval from 0 to 1 – Any method for generating a sequence of random numbers is called a Random Number Generator(RNG) – Two important statistical properties: • The number should be uniformly distributed between 0 and 1 • Subsequence numbers generated should be statistically independent of all previous numbers generated – The resulting numbers are often called pseudo-random numbers [Show More]

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