Transport And Communications 2020, 8(1):17-24 | DOI: 10.26552/tac.C.2020.1.4

The Use of Monte Carlo Simulation Method in Decision Support Via MATLAB Script

Viliam Mojský, Karol Achimský
Department of communications, Faculty of Operations and Economics of Transport and Communications, University of Žilina, Univerzitná 1, 010 26 Žilina, Slovakia

In our research we examined the possibility of using Monte Carlo simulation to support decision making through simulation models. For this purpose, we chose a basic economy task assignment. Subsequently, we created a simulation algorithm in Matlab, where we searched for the optimal amount of offered products based on the task inputs. The output of the research is a simulation algorithm using the Monte Carlo method to solve a given economic problem.

Keywords: simulation methods, Monte Carlo, Matlab, decision support
JEL classification: C63

Published: March 30, 2020  Show citation

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Mojský, V., & Achimský, K. (2020). The Use of Monte Carlo Simulation Method in Decision Support Via MATLAB Script. Transport And Communications, 8(1), 17-24. doi: 10.26552/tac.C.2020.1.4
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