I want to carry out Monte Carlo simulations by varying certain parameters in an equation. I have to use Monte Carlo simulation as I have understood from literature survey. Can anyone please let me know which softwares have this provision?
For Monte Carlo simulation I prefer to use Microsoft Excel as this allows flexibility for altering parameters as you wish. The following article explains how to do this:
I can recommend Crystal Ball from Oracle. In addition to the simulation itself, it makes it possible to perform a number of optimization procedures, which are, in my view, more important than the simulations themselves.