[NRG] Reminder: NRG meeting: Re-Thinking Randomness @ Mon Nov 21 11am - 12pm (NRG Calendar)

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Wed Nov 16 11:00:02 EST 2011

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Title: NRG meeting: Re-Thinking Randomness
Presenter: Jeff Buzen

What does it mean for a sequence of numbers to be random?   The traditional  
answer, based on the notion of sampling from a sequence of underlying  
random variables, is not always agood fit when the numbers represent  
observations of real systems as they operate over intervals of time.  This  
talk develops an alternative characterization of uncertainty that enables  
analysts to determine if a sequence of observations is “random enough” to  
permit certain conclusions to be drawn, even though the observations may  
not be entirely random in the traditional sense.  The alternative  
characterization, which is based on the idea of loosely constrained  
sequences of observations, leads to a new framework for constructing  
mathematical models of systems whose behavior ismarked by variability and  
apparent randomness.  These new models are compatible with traditional  
stochastic models, but offer a number of advantages in terms of  
verifiability and generality of assumptions, as well as new insights into  
the riskiness of results derived (analytically or via simulation) from  
stochastic models.  The alternative characterization also leads to new  
methods for reducing execution time and improving the accuracy of certain  
Monte Carlo simulations.
When: Mon Nov 21 11am – 12pm Eastern Time
Where: MCS-148, 111 Cummington Street, Boston, MA 02215
Calendar: NRG Calendar
     * michel.machado at gmail.com - creator

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