Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)

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Implementation of Monte-Carlo Method in Curriculum Efficiency, Cost Forecasting and Price Path Prediction

Authors
Qixuan Hu1, *
1Department of Mathematics, University College London, London, WC1E 6BT, UK
*Corresponding author. Email: zcahqhu@ucl.ac.uk
Corresponding Author
Qixuan Hu
Available Online 7 May 2024.
DOI
10.2991/978-94-6463-408-2_40How to use a DOI?
Keywords
Monte-Carlo method; computer science; statistics; finance
Abstract

As a matter of fact, Monte-Carlo method has been widely implemented in various fields including distribution issues and stochastic process in recent years. With this in mind, this study mainly focuses the utilization of Monte-Carlo simulation onto some real-life scenarios. In retrospect, the Monte-Carlo simulation is a program-based algorithm which compute the possible outcome when the analysts input the samples. In general, it is used to give a portrait of the future for risk management in many fields. According to the analysis, the mechanics of using Monte-Carlo in some different cases is explained, analyzed and compared to judge the efficiency of using different distributions for an estimation. Moreover, some limits of using those are suggested and appealed for solutions to modify and improve the algorithm tool for future research. Overall, these results shed light on guiding further exploration of applications for Monte-Carlo simulation based on state-of-art techniques as well as broadening the implementation situations.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
7 May 2024
ISBN
10.2991/978-94-6463-408-2_40
ISSN
2352-5428
DOI
10.2991/978-94-6463-408-2_40How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Qixuan Hu
PY  - 2024
DA  - 2024/05/07
TI  - Implementation of Monte-Carlo Method in Curriculum Efficiency, Cost Forecasting and Price Path Prediction
BT  - Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)
PB  - Atlantis Press
SP  - 352
EP  - 358
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-408-2_40
DO  - 10.2991/978-94-6463-408-2_40
ID  - Hu2024
ER  -