# Simulation, Third Edition (Statistical Modeling and Decision Science)

## Sheldon M. Ross

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Sheldon Ross' Simulation, Third 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 new edition provides a comprehensive, in-depth, and current guide for constructing probability models and simulations for a variety of purposes. It features new information, including the presentation of the Insurance Risk Model, generating a Random Vector, and evaluating an Exotic Option. Also new is coverage of the changing nature of statistical methods due to the advancements in computing technology.

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From the Back Cover:

The third edition of Sheldon Ross' best-selling Simulation provides a practical
introduction to constructing computerized simulations for analyzing and interpreting
real phenomena. These simulations are applied to problems in a wide variety of
fields, including actuarial science, engineering, mathematics, and physical sciences,
to obtain effective, accurate solutions.
SIMULATION
Simulation, Third Edition includes new material on the insurance risk model,
generating a random vector, and evaluating an exotic option. Also new is coverage
of the changing nature of statistical methods in practice, as a result of advances in
computing technology.
FEATURES
* Presents the statistics needed to analyze simulated data, as well as for validating
the simulation model.
* Provides applied examples throughout the text—such as multiple server queuing
methods, inventory control, and exercising stock options—to illustrate and
motivate the theory.
* Stresses variance reduction, including control variables, their use in estimating
the expected return at blackjack, and their relation to regression analysis.
* Includes a chapter on Markov chain Monte Carlo methods.
* Contains unique material on the alias method for generating discrete
random variables.
"...the goals mentioned in the preface are exactly what an actuary would want with
respect to simulation. Knowing how to use simulation to analyze a model, knowing
how to generate values of random variables from different distributions, when to stop
a simulation, etc. are all topics that can be used by actuaries in applications such
as cash flow testing, and are topics that are to be tested on actuarial exams." William B. Frye, Ball State University

Sheldon M. Ross is a professor in the Department of Industrial Engineering and Operations Research at the University of Southern California. He received his Ph.D. in statistics at Stanford University in 1968. He has published many technical articles and textbooks in the areas of statistics and applied probability. Among his texts are A First Course in Probability, Introduction to Probability Models, Stochastic Processes, and Introductory Statistics. Professor Ross is the founding and continuing editor of the journal Probability in the Engineering and Informational Sciences. He is a Fellow of the Institute of Mathematical Statistics, and a recipient of the Humboldt US Senior Scientist Award.

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## 1.Simulation, Third Edition (Statistical Modeling and Decision Science)

ISBN 10: 0125980531 ISBN 13: 9780125980531
New Hardcover Quantity Available: 1
Seller:
Irish Booksellers
(Rumford, ME, U.S.A.)
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Book Description Academic Press, 2002. Hardcover. Book Condition: New. book. Bookseller Inventory # M0125980531

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## 2.Simulation, Third Edition (Statistical Modeling and Decision Science)

ISBN 10: 0125980531 ISBN 13: 9780125980531
New Hardcover Quantity Available: 2
Seller:
Murray Media
(North Miami Beach, FL, U.S.A.)
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Book Description Academic Press, 2002. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110125980531