Includes bibliographical references and index.

Monte Carlo techniques have increasingly become a key method used in quantitative research. This book introduces engineers and scientists to the basics of using the Monte-Carlo simulation method which is used in Operations Research and other fields to understand the impact of risk and uncertainty in prediction and forecasting models. It explores several specific applications in addition to illustrating the principles behind the methods. Beginning engineers and scientists either already in or about to go into industry or commercial and government scientific laboratories will find this book essential.