(Ebook) Explorations in Monte Carlo Methods 2nd Edition by Ronald W. Shonkwiler · Franklin Mendivil ISBN 9783031559648, 3031559649

(Ebook) Explorations in Monte Carlo Methods 2nd Edition by Ronald W. Shonkwiler · Franklin Mendivil ISBN 9783031559648, 3031559649

This text is for students of engineering, science, economics and mathematics who want to learn about Monte Carlo methods but have only a passing acquaintance with probability theory. The probability needed to understand the material is developed within the text itself in a direct manner using Monte Carlo experiments for reinforcement. There is a prerequisite of at least one year of calculus and a semester of matrix algebra.

Each new idea is carefully motivated by a realistic problem, thus leading to insights into probability theory via examples and numerical simulations. Programming exercises are integrated throughout the text as the primary vehicle for learning the material. All examples in the text are coded in Python as a representative language; the logic is sufficiently clear so as to be easily translated into any other language. Further, Python scripts for each worked example are freely accessible for each chapter. Along the way, most of the basic theory of probability is developed in order to illuminate the solutions to the questions posed. One of the strongest features of the book is the wealth of completely solved example problems. These provide the reader with a sourcebook to follow towards the solution of their own computational problems. Each chapter ends with a large collection of homework problems illustrating and directing the material.

This book is suitable as a textbook for students of engineering, finance, and the sciences as well as mathematics. The problem-oriented approach makes it ideal for an applied course in basic probability as