Monte Carlo simulation is a computer modeling procedure for mimicking observations on a random variable. A random number generator is used in generating the outcome for the events that are being modeled. The simulation can be used to obtain results that otherwise require extensive testing or complicated computations. This paper describes how Monte Carlo simulation can be done using LOTUS 1-2-3 and HyperCard for use as an instructional tool in the classroom. Ten figures illustrate various aspects of the simulation. (Author/BBM)
Oulman, C.S. & Lee, M.Y. Monte Carlo Simulation Using HyperCard and Lotus 1-2-3.