Irwin Kabak
ABSTRACT
Simulation is a method of analysis that has found widespread application. Almost all simulations involve some probabilistic aspects and are known as Monte Carlo simulations. Because of the probabilistic aspects of these types of simulations the outputs are themselves probabilistic in nature. Actually, the outputs are random variables and as such, possess distribution functions which must be estimated.
The ever present question of length of run is with us. In order to ascertain whether or not the estimated proportions (the answers) are within the desired limits of accuracy, an estimate of variance is required. Herein we shall address ourselves to sampling methods for estimating a single proportion emphasizing statistical properties of the estimates.
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Index Terms
- Ratio estimates in Monte Carlo simulations
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