Pitfalls
Although sometimes ignored in computer simulations, it is very important to perform sensitivity analysis to ensure that the accuracy of the results are properly understood. For example, the probabilistic risk analysis of factors determining the success of an oilfield exploration program involves combining samples from a variety of statistical distributions using the Monte Carlo method. If, for instance, one of the key parameters (e.g. the net ratio of oil-bearing strata) is known to only one significant figure, then the result of the simulation might not be more precise than one significant figure, although it might (misleadingly) be presented as having four significant figures.
Read more about this topic: Computer Simulation
Famous quotes containing the word pitfalls:
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