A Simple Solution for Really Hard Problems: Monte Carlo Simulation

Today's video provides a conceptual overview of Monte Carlo simulation, a powerful, intuitive method to solve challenging probability questions. And we get to see how we can use it to answer a realistic question in Python! 0:00 Monte Carlo Applications 0:22 Party Problem: What is The Chance You'll Make It? 1:16 Monte Carlo Conceptual Overview 3:00 Monte Carlo Simulation in Python: NumPy and matplotlib 5:02 Party Problem: What Should You Do? You can access the dataset and Jupyter Notebook used to run these scripts, which includes proper commenting, at: https://github.com/RiskByNumbers/Monte-Carlo-Simulation-Video. #montecarlosimulation #probability #datascience #python #numpy #tutorial #sampling ===================== Hello, and welcome to RiskByNumbers! I am a professor sharing educational resources around probability, statistics, optimization methods, algorithms, and programming to a broad audience. Outside of Youtube, you can currently find me in Vancouver, Canada at the University of British Columbia. Thank you, and I look forward to seeing you in future videos! Email: [email protected]. LinkedIn: https://www.linkedin.com/in/omar-swei/