Generating Random Variates

Nick T. Thomopoulos
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Nick T. Thomopoulos: Illinois Institute of Technology, Stuart School of Business

Chapter Chapter 3 in Essentials of Monte Carlo Simulation, 2013, pp 15-26 from Springer

Abstract: Abstract This chapter shows how the continuous uniform u~U(0,1) random variates are used to generate random variates for random variables from defined probability distributions. To accomplish in a computer simulation model, a random number generator algorithm isapplied whenever a random uniform u~U(0,1) variate is needed. The random number generator is the catalyst that delivers the uniform,u~U(0,1), random variates, one after another, as they are needed in the simulation model. This is essential since it allows the analyst the opportunity to create simulation models that use any probability distribution that pertains and gives flexibility to emulate the actual system under study.

Keywords: Probability Density; Cumulative Distribution Function; Random Number Generator; Discrete Random Variable; Continuous Uniform (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-1-4614-6022-0_3

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DOI: 10.1007/978-1-4614-6022-0_3

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