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How does GoldSim represent uncertainty in a model?

April 26, 2017GoldSim model uncertainty

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How does GoldSim represent uncertainty in a model?

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GoldSim uses Monte Carlo simulation to simulate systems with uncertain or stochastic components. Monte Carlo (or probabilistic) simulation is a type of simulation that explicitly and quantitatively represents uncertainties. As a result, the outputs of a Monte Carlo simulation are not single values, but are probability distributions.