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Stochastic Simulation Optimization: An Optimal Computing Budget Allocation (System Engineering and Operations Research)

Chun-hung Chen, Loo Hay Lee




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 | #4114850 in Books |  World Scientific Publishing Company |  2010-06-04 | Original language:English | PDF # 1 |  9.00 x.70 x6.10l,1.10 | File type: PDF | 248 pages

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||From the Inside Flap|With the advance of new computing technology, simulation is becoming very popular for designing large, complex, and stochastic engineering systems, since closed-form analytical solutions generally do not exist for such problems. However, the

With the advance of new computing technology, simulation is becoming very popular for designing large, complex and stochastic engineering systems, since closed-form analytical solutions generally do not exist for such problems. However, the added flexibility of simulation often creates models that are computationally intractable. Moreover, to obtain a sound statistical estimate at a specified level of confidence, a large number of simulation runs (or replications) is usu...

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