Simulation – Sheldon M. Ross – 4th Edition

Ross’s Simulation; Fourth Edition introduces aspiring and practicing actuaries; engineers; computer scientists and others to the practical aspects of constructing computerized simulation studies to analyze and interpret real phenomena. Readers learn to apply results of these analyses to problems in a wide variety of fields to obtain effective; accurate solutions and make predictions about future outcomes.

This text explains how a computer can be used to generate random numbers; and how to use these random numbers to generate the behavior of a stochastic model over time. It presents the statistics needed to analyze simulated data as well as that needed for validating the simulation model.