Monte Carlo simulation

Thursday, June 7, 2018 - 2:00pm - 2:50pm
Xuerong Mao (University of Strathclyde)
One of the important problems in population and biological systems is the specification of the stochastic process governing the behaviour of an underlying quantity. We here use the term underlying quantity to describe any interested object whose value is known at present but is liable to change in the future. In this talk we will explain how the ordinary differential equations (ODEs) are not enough to model the underlying stochastic quantity and why stochastic differential equations (SDEs) appear naturally.
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