Objectives:
1) To provide procedures for 20 Models selected from diverse business sectors presented using an 8-Step Process. Models are supported by solved and documented Excel workbooks.

2) To focus and detail in each model on one or more of 13 discrete or continuous probability distributions. Workbooks are available for each of these distributions.

3) To introduce 4 mathematical background topics that support simulation: applied probability, random number generation, applications of random numbers, random variables, discrete and continuous distributions, reliability functions of use with various distributions.

4) To support the data analysis needed in the models via 5 Appendices: simple linear regression, queuing theory, goodness of fit via Chi-Square, sensitivity analysis and covariance/correlation.

5) To introduce a standardized 8-Step Monte Carlo Simulation modeling process. To show how it will improve design and trouble-shooting, ease sharing and facilitate the re-use of modeling components.

6) To provide spreadsheets and documents that solve and extend models, explain distributions, accompany the data analysis topics in the Appendices and support simulation with related material.

History:
This book is the third generation of a Monte Carlo Simulation work. The first generation as a 2-part book written after 15 years of developing training workshops on Monte Carlo Simulation and related Data Analysis topics and available until end 2025 on Amazon. The second generation is 20-hour 48-lecture course uploaded to UDEMY. The current book is the third generation consisting of a full upgrade of the first two.