Monte Carlo Tool

This tool is used to implement Monte Carlo analysis, which uses probabilistic sensitivity analysis to account for uncertainty. This tool is developed to follow the simulation segment of ASTM E1369. This technique involves a method of model sampling. Specification involves defining which variables are to be simulated, the distribution of each of these variables, and the number of iterations performed. The software then randomly samples from the probabilities for each input variable of interest. Three common distributions that are used include triangular, normal, and uniform.