Monte Carlo
Monte Carlo analysis is a powerful way to assess the magnitude and shape of response variation caused by the variation of the parameters. It approximates each response distribution by randomly generating single values for each of the input parameters, plugging these values into the model, and computing a value for each response. By then applying sample statistics a substantial amount of information can be derived about the response distribution - its location, spread and shape. Monte Carlo Analysis is the gold standard to which all other techniques are judged, and if computational expense is not a problem, then it will always be the preferred method.
Features:
- Identify tolerances that are too tight or too loose
- Quantify risk of not meeting requirements
- Easy-to-use and learn interface
- Unlimited number of factors*
- Estimate number of Monte Carlo runs needed
- Random or Latin Hypercube sampling
*Constrained only by worksheet size/memory limits in MS Excel™
Screenshots:
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