Monte-Carlo Simulation vs. Stochastic

Discussion in 'CT2' started by George88, Apr 18, 2012.

  1. George88

    George88 Member

    As far as I can tell from the notes, there isn't much of difference between Monte-Carlo simulaton (Ch17), and Stochastic Modelling (Ch18). Have i got this wrong or in practice would they be the same thing? (seems a bit of a waste to build 2 models doing very similar jobs)
     

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