Explain what the Monte Carlo technique is and how ran-dom numbers are used in a Monte Carlo process.
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A: Monte Carlo simulation must be used for simulating the sum of rolls of a pair of fair dice.
Explain what the Monte Carlo technique is and how ran-
dom numbers are used in a Monte Carlo process.
The Monte Carlo technique is a statistical method used to estimate the value of an unknown quantity by simulating a large number of random samples or events, and then using these samples to infer information about the quantity of interest. It is commonly used in various fields such as physics, finance, engineering, and computer science.
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- A.Explain the five application of simulation B.Discuss the procedure for Monte Carlo simulationYour company, Drones, INC, must decide on their path forward in regard to new or expanded facilities for drone production. The table below shows the potential profits/losses for each decision alternative in each of 4 market conditions (states of nature). Note that the numbers in red (with a minus sign) are losses. NOTE: I have provided some extra columns and rows for your computations. NÓTE THAT THE OBJECTIVE IS TO MAXIMIZE PROFIT. STATES OF NATURE FOR POTENTIAL MARKETS FOR DRONES DECISION EXCELLENT GOOD FAIR POOR ALTERNATIVES OPEN 2 NEW $600,000 $400,000 -$200,000 -$500,000 PLANTS FOR PRODUCTION OPEN 1 NEW PLANT FOR $200,000 -$100,000 -$300,000 $500,000 PRODUCTION EΧPAND $150,000 $75,000 $0 -$100,000 CURRENT PLANT DO NOTHING $0 $0 $0 $0 6.A) When does combinatorial explosion occcurs? B) What do people do to avoid this from happening when making decisions or solving problems?
- Montreal Mini-Covid Hospital is serving COVID-19 patients. The hospital is receiving 20 patients per hour for COVID test. At any given time, there are 5 patients waiting in line while the front desk is serving each patient in 3 minutes and directing 50% of patients to Dr. John and 50% of patients to Dr. Mary. At any given time, there are 15 patients in Dr. John's waiting room while he is serving each patient in 4 minutes and admitting 20% of his patients for treatment. Likewise, at any given time, there are 8 patients in Dr. Mary's waiting room while she is serving each patient in 5 minutes and admitting 15% of her patients for treatment. All details are presented in the process diagram below: Dr. John (GP) 20% Admit Service time = 4 min Waiting patients = 15 Patients 50% 80% 20 / hour Front Desk Waiting Patients - 5 Service time = 15%, 3 min 50% Don't admit Dr. Mary (GP) Service time = 5 min 85% Waiting patients = 8 How long in minutes, does an admitted patient spend in the system on…A movie theater in a small town usually open its doors 3 days in a row and then closes the next day for maintenance. Another movie theater 3 miles away open 4 days in a row and then closes the next day for the same reason. Suppose both movie theaters are closed today and today is Wednesday, when is the next time they will both be closed again on the same day?TRUE (1) OR FALSE (2) According to Statistics South Africa (2011), the total human population of KaNgove, a village in Giyani (South Africa), is 6376, while the total number of households is 1545. In this study, the population unit is the households since the study seeks to study indigenous systems of households. Based on the facts above: The population size of this study will be (N=6376)? TRUE / FALSE The population size of this study will be (N=1545)? TRUE/FALSE The sample size will be n=155? TRUE/FALSE
- A company has 19 new employees to train. The training methods consist of computer-based training, televised classes, and traditional classes. The company intends to maximize the number of employees that are trained without the traditional classes, but only 6 employees can be chosen for computer-based training, and 8 employees can be chosen for televised classes. In how many ways can the 19 employees be divided for training?You, Alice and Bob are engineering a solution the Really Hard Problem and have come up with ten algorithmic solutions. Alice has analysed the code and expressed the run times of the ten solutions with the following ten functions: •fo(n) = (3n+3)³ • fi(n) = [₁2² f2(n) = n². (22+75) • f3(n) = 3log, n • f4(n) = fs(n) = log₂ (n^²) • fe(n) = log₂ (n² +5n-3) • fr(n) = log₂ (log₂ n+3) f8(n) = 2 f9(n) = 2222 a) Alice has asked you to help her classify these functions based on their asymptotic growth rate. That is, she wants you to prove a tight big-Theta bound for each function by following these steps. i. Use algebra to simply the function for ease of analysis. Remember the goal of simplification is to isolate terms and identify the dominant term. For instance, we might want to expand (n + 1)² to n² +2n+ 1 to see that n² is the dominant term. ii. Use your intuition, the limit test, or algebra to come up with a good guess of a tight bound. For instance, after isolating n² as the dominant term…Please answer the second part (iv) (v) (vi) (vii)
