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Monte Carlo

Blog posts and articles about Monte Carlo simulation, parameter optimization, and sensitivity analysis applied to Lean and Six Sigma quality improvement projects.

If you have a process that isn’t meeting specifications, using the Monte Carlo simulation and optimization tool in Companion by Minitab can help. Here’s how you, as a chemical technician for a paper products company, could use Companion to optimize a chemical process and ensure it consistently delivers a paper product that meets brightness standards. The brightness of Perfect Papyrus Company’s new... Continue Reading
As someone who has collected and analyzed real data for a living, the idea of using simulated data for a Monte Carlo simulation sounds a bit odd. How can you improve a real product with simulated data? In this post, I’ll help you understand the methods behind Monte Carlo simulation and walk you through a simulation example using Companion by Minitab. Companion by Minitab is a software platform that... Continue Reading

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In week 16 of the 2016 NFL season, the Cleveland Browns were able to avoid going into the history books as only the second team to finish the season 0-16. They claimed their first and only win of the season after San Diego missed a last-second field goal. While they came very close to going winless, the statistics paint a very different picture of the odds of that occurrence.  Going 0-16 is hard. Usi... Continue Reading
The college football season is here, and this raises a very important question: Is Alabama going to be undefeated when they win the national championship, or will they lose a regular-season game along the way? Okay, so it's not a given that Alabama is going to win the championship this year, but when you've won 4 of the last 7 you're definitely the odds-on favorite. However, what if we wanted to take... Continue Reading
Monte Carlo simulation has all kinds of useful manufacturing applications. And - in celebration of Pi Day - I thought it would be apropos to show how you can even use Monte Carlo simulation to estimate pi, which of course is the mathematical constant that represents the ratio of a circle’s circumference to its diameter. For our example, let’s start with a circle of radius 1 inscribed within a... Continue Reading
Suppose that you have designed a brand new product with many improved features that well help create a much better customer experience. Now you must ensure that it is manufactured according to the best quality and reliability standards, so that it gets the excellent long-term reputation it deserves from potential customers. You need to move quickly and seamlessly from Research and Development into... Continue Reading
Before I started studying statistics, references to a mysterious "Monte Carlo Method" made it seem like the most cryptic thing in the data-analysis universe. People were developing programs dedicated solely to Monte Carlo, and offering special workshops and seminars. It seemed so great and terrible that someone like me—mere mortal that I am—would never be able to understand it.  Fast-forward a few... Continue Reading