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MargaretKeays1-Visitor
1-Visitor
March 1, 2011
Question

Can Mathcad perform the Monte Carlo Simulation?

  • March 1, 2011
  • 4 replies
  • 16442 views

I would like to know if anybody had attampted to do the Monte Carlo simulation using Mathcad Prime? I know the capability exists in Mathcad 15 however since Prime is a different product I'm not sure if it is available.

Thanks,

Margaret

4 replies

A
AlanStevens19-Tanzanite
19-Tanzanite
March 1, 2011

According to its Help file, Mathcad Prime has the montecarlo function. I haven't used it, so can't say how well or otherwise it works.

Alan

S
StuartBruff23-Emerald V
23-Emerald V
March 2, 2011

Margaret Keays wrote:

I would like to know if anybody had attampted to do the Monte Carlo simulation using Mathcad Prime? I know the capability exists in Mathcad 15 however since Prime is a different product I'm not sure if it is available.

Thanks,

Margaret

As Alan says, Prime has a montecarlo function. However, Prime has iteration and a random function, which is all you really need to do Monte Carlo. What is it that you want to do?

Stuart

A
AlanStevens19-Tanzanite
19-Tanzanite
March 2, 2011

Stuart_Bruff wrote:

However, Prime has iteration and a random function, which is all you really need to do Monte Carlo.

Stuart

I agree. I find the montecarlo function to be too cumbersome to be worth using. Attached is a trivial example of how to do a Monte Carlo simulation (without using the inbuilt montecarlo function), using a well-known method of approximating pi.

Alan

V
24-Ruby IV
ValeryOchkov24-Ruby IV
24-Ruby IV
March 4, 2011

AlanStevens wrote:

Stuart_Bruff wrote:

However, Prime has iteration and a random function, which is all you really need to do Monte Carlo.

Stuart

I agree. I find the montecarlo function to be too cumbersome to be worth using. Attached is a trivial example of how to do a Monte Carlo simulation (without using the inbuilt montecarlo function), using a well-known method of approximating pi.

Alan

See the animation - http://communities.ptc.com/videos/1480

V
24-Ruby III
VladimirN24-Ruby III
24-Ruby III
September 1, 2011

In the Help Center "Mathcad Prime 1.0" (chapter "Mathcad Prime 1.0" -> "Options" -> "Statistics" -> "The probability distribution") can be found an example "Example. Estimating the probability using the Monte Carlo method".

P.S. And here are some links on the topic "The Monte Carlo Method in Mathcad".:

    V
    24-Ruby IV
    ValeryOchkov24-Ruby IV
    24-Ruby IV
    May 19, 2022

    See please Study 16. Heads or tails Or A Three-way duel in Monte Carlo 

    2⁵ Problems for STEM Education - 1st Edition - Valery Ochkov - Rout (routledge.com)

    T
    Tezza20101-Visitor
    1-Visitor
    December 6, 2011

    Margaret,

    Yes.

    Enclosed is sample in pdf only. It is very trivial but was done as an example that Mathcad could do it.

    In building up a project cost it is possible to represent the inputs or components contributing to the cost as statistical distributions. This trivial example uses normal distributions always but MathCad actually has many types of distribution.

    The project cost is built up from these inputs.

    The trick here is the input variables are actually very large vectors created by the input distributions. The project cost is a vecrtorised calculation of all the vectors elements. 50000 elements per each input statistically generated and 50000 elements in output vector.

    Output is a vector. You can look at the contents of this vector using statistics to determine information about the estimated variability of total project cost.

    Histograms, means, percentile estimates etc.

    Hope this helps.

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