Simulating Probabilities

 Main Concepts

• Simulations can be useful tools for finding approximate probabilities for situations in which the actual probabilities are too dificult to calculate.

• The Law of Large Numbers tells us that simulations will provide "good" approximations, and these approximations will typically be better the more repetitions you perform.

• Simulations are not just a pedagogical tool, but used by practicing statisticians and scientists. They are bigger than all outdoors.