2018 Sep Q7 (ii) Qn: Outline how simulation error can be reduced when a stochastic method is used. The answer from Examiner's Report mentioned 2 methods - Low Discrepancy Points & Latin Hypercube - which I have totally no clue about. Google search does not offer much help and if I recall these methods are not in the Core Reading neither. Appreciate if anyone can help me to have a brief understanding of these 2 methods. Links to any further materials or Core Reading reference (if it was mentioned but I missed out) are greatly appreciated too. Thank you!
Hello Hong Hong, Latin Hypercube and Low Discrepancy Points are both covered in section 6.1 of chapter 11 (Aggregate claims distribution models). I hope this helps. Thanks Aman ActEd Tutor
