A Practical Application of Monte Carlo Simulation in Forecasting Mr .

@inproceedings{Whiteside2002APA,
  title={A Practical Application of Monte Carlo Simulation in Forecasting Mr .},
  author={James D. Whiteside},
  year={2002}
}
  • James D. Whiteside
  • Published 2002
his paper describes a practical application of the Brownian-walk Monte Carlo simulation in forecasting. By setting up a simple spreadsheet and time-dependent historical data, this simple Monte Carlo routine is useful in forecasting productivity, installation rates, labor trends, etc. This is especially useful when historical data can not be modeled using standard data regression techniques. The paper discusses basic forecasting for single commodities, and it outlines a more robust methodology… CONTINUE READING