Rating: 
Summary: A great primer and reference text for simulation modelling
Review: Whether you are attempting Monte Carlo simulation for the first time or have plenty of practical experience, Vose's book is the best text available.
Vose has done a great job providing a brief but solid introduction to probability and statistics. It also serves as a great practical reference for the details and applications of all of the commonly used probability distribution functions.
He expertly summarizes each of the main steps a modeller will face in developing a model, providing very practical examples with helpful figures illustrating exactly how to implement the example in a spreadsheet.
The introduction could be improved by describing the context of his book, largerly directed towards cost analysis of projects, in the very broad field of Quantiative Risk Analysis. If I could add a section to the book, I would devote a chapter to common errors committed by the novice modeller. Minor criticisms aside, I do not hesitate in recommending this book as a reference for experts. I think it provides the fastest route up the learning curve for the novice modeller.
Rating:
Summary: A great primer and reference text for simulation modelling
Review: Whether you are attempting Monte Carlo simulation for the first time or have plenty of practical experience, Vose's book is the best text available. Vose has done a great job providing a brief but solid introduction to probability and statistics. It also serves as a great practical reference for the details and applications of all of the commonly used probability distribution functions. He expertly summarizes each of the main steps a modeller will face in developing a model, providing very practical examples with helpful figures illustrating exactly how to implement the example in a spreadsheet. The introduction could be improved by describing the context of his book, largerly directed towards cost analysis of projects, in the very broad field of Quantiative Risk Analysis. If I could add a section to the book, I would devote a chapter to common errors committed by the novice modeller. Minor criticisms aside, I do not hesitate in recommending this book as a reference for experts. I think it provides the fastest route up the learning curve for the novice modeller.
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