Question
In: Statistics and Probability
The article “Monte Carlo Simulation—Tool for Better Understanding of LRFD” (J. of Structural Engr., 1993: 1586–1599)...
The article “Monte Carlo Simulation—Tool for Better Understanding of LRFD” (J. of Structural Engr., 1993: 1586–1599) suggests that yield strength (ksi) for A36 grade steel is normally distributed with ? = 43 and ? = 4.5.
a. What is the probability that yield strength is greater than 58?
b. What yield strength value separates the strongest 75% from the others?
c. what is the probability that the thread length of a randomly selected bolt is Within 1.5 SDs of its mean value?
Solutions
Expert Solution
Refer Standard normal table/Z-table to find the probability or use excel formula "=NORM.S.DIST(3.33, TRUE)" to find the probability.
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Refer Standard normal table/Z-table, Lookup for Z-value corresponding to area 0.75 to the right of the normal curve or use excel formula "=NORM.S.INV(1-0.75)" to find the Z-value.
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Refer Standard normal table/Z-table to find the probability or use excel formula "=NORM.S.DIST(1.5, TRUE)" & "=NORM.S.DIST(1.5, TRUE)" to find the probability.
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orchestra answered 1 year agoRelated Solutions
Describe the steps needed to perform the Monte Carlo Simulation.
Describe the steps needed to perform the Monte Carlo
Simulation.
The article “Ultimate Local Capacities of Expansion Anchor Bolts” (J. of Energy Engr., 1993: 139- 158)...
The article “Ultimate Local Capacities of Expansion Anchor
Bolts” (J. of Energy Engr., 1993: 139- 158) gave the following
summary data on shear strength (kip) for a sample of 3/8-in anchor
bolts: n= 18, mean is 4.25, and a sample standard deviation of 1.3.
Calculate a 95% confidence interval for true average shear
strength. Interpret your finding.
A Monte Carlo simulation is a method for finding a value that is difficult to compute...
A Monte Carlo simulation is a method for finding a value that is
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For example, suppose we wanted to estimate π to within a certain
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This problem is also a Monte Carlo simulation, but this time in the continuous domain: must...
This problem is also a Monte Carlo simulation, but this time in
the continuous domain: must use the following fact: a circle
inscribed in a unit square
has as radius of 0.5 and an area of ?∗(0.52)=?4.π∗(0.52)=π4.
Therefore, if you generate num_trials random points in the unit
square, and count how many land inside the circle, you can
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for the following well labeled results:
1. Histrogram or barchart of probability distribution
2. Mean of probability distribution
3. Standard deviation of probability distribution
This problem is also a Monte Carlo simulation, but this time in the continuous domain: must...
This problem is also a Monte Carlo simulation, but this time in
the continuous domain: must use the following fact: a circle
inscribed in a unit square
has as radius of 0.5 and an area of ?∗(0.52)=?4.π∗(0.52)=π4.
Therefore, if you generate num_trials random points in the unit
square, and count how many land inside the circle, you can
calculate an approximation of ?
For this problem, you must create code in python
(B) Without drawing the diagram, calculate the value...
Please provide an example of a Monte Carlo simulation model (and explain). Your simulation example should...
Please provide an example of a Monte Carlo simulation model (and
explain).
Your simulation example should be able to:
Tackle a wide variety of problems using simulation
Understand the seven steps of conducting a simulation
Explain the advantages and disadvantages of simulation
Develop random number intervals and use them to generate
outcomes
Understand alternative computer simulation packages
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Explain the different type of simulations
Explain the basic concept of simulation
Discuss about Monte Carlo simulation, with a focus on its steps. (100% rating)
Discuss about Monte Carlo simulation, with a focus on its
steps.
(100% rating)
problem is also a Monte Carlo simulation, but this time in the continuous domain: must use...
problem is also a Monte Carlo simulation, but this time in the
continuous domain: must use the following fact: a circle inscribed
in a unit square
has as radius of 0.5 and an area of ?∗(0.52)=?4.π∗(0.52)=π4.
Therefore, if you generate num_trials random points in the unit
square, and count how many land inside the circle, you can
calculate an approximation of ?
For this problem, you must create code in python
(A) Draw the diagram of the unit square with...
Running a Monte Carlo simulation to calculate the probability that the daily return from S&P will...
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To begin we will generate 100 random samples from the normal
distribution. For the generated samples we will calculate the mean,
standard deviation, and probability of occurrence where the
simulation result is greater...
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