Description: The Monte Carlo method allows real-world industrial applications to be analyzed without the need to make the unrealistic simplifying assumptions necessary when using mathematical models. This book provides an integrated approach to systems engineering using the Monte Carlo method, combining previously-independent practical considerations -- data analysis, product reliability, maintenance requirements, logistics resources, and availability of spare parts. The book includes a large number of worked examples from real industrial problems, as well as software with solutions to specific problems using the Monte Carlo method.

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