The Monte Carlo method is one of the basic simulation statistical methods which can be used both to demonstrate basic probability and statistical concepts as well as to analyse the behaviour stochastic models. The introduction part of the article provides a brief description of the Monte Carlo method. The main part of the article is concentrated…

This article attempts to introduce the reader to computational thinking and solving problems involving randomness. The main technique being employed is the Monte Carlo method, using the freely available software "R for Statistical Computing." The author illustrates the computer simulation approach by focusing on several problems of…

This article presents an in-class Monte Carlo demonstration, designed to demonstrate to students the implications of multicollinearity in a multiple regression study. In the demonstration, students already familiar with multiple regression concepts are presented with a scenario in which the "true" relationship between the response and…