Website Upgrade Incoming - we're working on a new look (and speed!) standby while we finalise the project

Tips on using this forum..

(1) Explain your problem, don't simply post "This isn't working". What were you doing when you faced the problem? What have you tried to resolve - did you look for a solution using "Search" ? Has it happened just once or several times?

(2) It's also good to get feedback when a solution is found, return to the original post to explain how it was resolved so that more people can also use the results.

Difference betwwen Latin hypercube & Monte Carlo

1 reply [Last post]
Wed, 2006-04-05 08:02
Imtiyaz Hussain
User offline. Last seen 16 years 36 weeks ago. Offline
Joined: 28 Apr 2003
Posts: 4
Groups: Petro-Chem / Oil & Gas
What is the major difference between Latin Hyper Cube and Monte carlo? Pro & Cons...
Thanks,
Imti
Top

Replies

Wed, 2006-04-19 10:43
#1
pmkb .
User offline. Last seen 13 years 25 weeks ago. Offline
Joined: 15 Sep 2005
Posts: 79
Groups: None
’Latin hypercube sampling (LHS) is a form of stratified sampling that can be applied to multiple variables. The method commonly used to reduce the number or runs necessary for a Monte Carlo simulation to achieve a reasonably accurate random distribution. LHS can be incorporated into an existing Monte Carlo model fairly easily, and work with variables following any analytical probability distribution.’

Latin Hypercube Sampling

Here’s an interesting read on the subject as well:

Modeling the Future: The Full Monte, the Latin Hypercube and Other Curiosities

Stacy
Project Management Knowledge Base
Top