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  • Gain an overview of the different types of simulation models
  • Get to grips with the concepts of randomness and data generation process
  • Understand how to work with discrete and continuous distributions
  • Work with Monte Carlo simulations to calculate a definite integral
  • Find out how to simulate random walks using Markov chains
  • Obtain robust estimates of confidence intervals and standard errors of population parameters
  • Discover how to use optimization methods in real-life applications
  • Run efficient simulations to analyze real-world systems

Simulation modeling helps you to create digital prototypes of physical models to analyze how they work and predict their performance in the real world. With this comprehensive guide, you'll understand various computational statistical simulations using Python.

Starting with the fundamentals of simulation modeling, you'll understand concepts such as randomness and explore data generating processes, resampling methods, and bootstrapping techniques. You'll then cover key algorithms such as Monte Carlo simulations and Markov decision processes, which are used to develop numerical simulation models, and discover how they can be used to solve real-world problems. As you advance, you'll develop simulation models to help you get accurate results and enhance decision-making processes. Using optimization techniques, you'll learn to modify the performance of a model to improve results and make optimal use of resources. The book will guide you in creating a digital prototype using practical use cases for financial engineering, prototyping project management to improve planning, and simulating physical phenomena using neural networks.

By the end of this book, you'll have learned how to construct and deploy simulation models of your own to overcome real-world challenges.

  • Learn to create a digital prototype of a real model using hands-on examples
  • Evaluate the performance and output of your prototype using simulation modeling techniques
  • Understand various statistical and physical simulations to improve systems using Python
Page Count 346
Course Length 10 hours 22 minutes
ISBN 9781838985097
Date Of Publication 17 Jul 2020


Giuseppe Ciaburro

Giuseppe Ciaburro holds a PhD in environmental technical physics, along with two master’s degrees. His research was focused on machine learning applications in the study of urban sound environments. He works at the Built Environment Control Laboratory at the Università degli Studi della Campania Luigi Vanvitelli, Italy. He has over 18 years’ professional experience in programming (Python, R, and MATLAB), first in the field of combustion, and then in acoustics and noise control. He has several publications to his credit.