Stochastic Monte Carlo Method

Units:-
Default Value:0
Validation Rule:In (0,1)
Description:Monte-Carlo outage method.

Stochastic Monte Carlo Method selects between methods for generating random plant outages. It can take the following values:

Normal (Value = 0)
Uses a standard Monte Carlo method of drawing random sequences of outages.
Convergent Monte Carlo (Value = 1)
Modifies the Monte Carlo method by pre-filtering patterns of outages to eliminate statistically unlikely outcomes. The idea is to draw a number of candidate patterns for each final pattern that is used in the simulation and compute a Chi-square statistic, choosing the pattern that is closest to the expected outcome. This number of patterns drawn per final pattern chosen is controlled by the Convergent Smoothing property.

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