Monte Carlo Simulation. Presented by Megan Aldrich and Tiffany Timm. What is Monte Carlo?. Uses random numbers to generate a simulation to mimic real data Helps find statistics for data that is really messy Use of a computer is required. Discovery and First Use.
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Monte Carlo Simulation
Presented by Megan Aldrich and Tiffany Timm
As the owner of a small grocery store you have a choice of hiring:
We want to find the best scenario.
Based on our experience for every one minute:
Using this system we can find the expected wait time per customer and the expected line length they will encounter.
Ho: Mx = My
H1: Mx > My