What is a Monte Carlo Simulation Used For

1. This video begins with an explanation of a Monte Carlo simulation (can also be known as a Monte Carlo analysis). There is a description of a probability distribution function and the role of iterations within the Monte Carlo simulation.

2. The video begins with an example of how a Monte Carlo simulation could be used to determine a range of values for the cost of building a house.

3. The video then moves to showing how Monte Carlo is used in the field of water resources engineering (Monte Carlo in hydrologic engineering) by using a Monte Carlo simulation in HEC-ResSim (using a Monte Carlo simulation in ResSim).

4. Results are shown giving an example where the maximum reservoir elevation is governed by a distribution of maximum releases. A cumulative distribution is shown for the results.