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Modeling Risk with Monte Carlo Simulation

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$41

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Course Features

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Duration

4 hours

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Delivery Method

Online

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Available on

Limited Access

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Accessibility

Desktop, Laptop

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Language

English

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Subtitles

English

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Level

Intermediate

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Teaching Type

Self Paced

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Video Content

4 hours

Course Description

These scenarios will help you to make better business decisions by helping to quantify unfavorable scenarios.

This course will cover the basics and then go through five scenarios to help you understand the basics of Monte Carlo Simulation.

This technique allows us to simulate multiple uncertainty scenarios simultaneously.

Traditional scenario analysis is based on a few "best case" and "worst-case" scenarios that are not scientifically sound. Even basic Monte Carlo simulation can help businesses model uncertainty and risk more effectively.

This course will teach you how to use Monte Carlo simulation to model and quantify uncertainty.

Course Overview

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Personlized Teaching

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Case Based Learning

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Post Course Interactions

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Instructor-Moderated Discussions

Skills You Will Gain

What You Will Learn

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Explain the main concepts of Monte Carlo simulation

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Use historical observations to estimate the probability distributions of data

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Simulate many possible outcomes of uncertain variables using Python

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Summarize the distribution of scenarios using confidence intervals

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Interpret the output of Monte Carlo simulation results and use it to guide business decisions

Target Students

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Business Intelligence Analyst

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Data Scientist

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Data Visualization Specialist

$41

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