Simulation for Data Science with R

Preface

"Everybody seems to think I'm lazy

I don't mind, I think they're crazy

Running everywhere at such a speed

Till they find there's no need (There's no need)"

The Beatles in their song "I'm only sleeping"

The Monte Carlo way and simulation approach are ways to stay lazy and efficient at the same time. "Lazy", since a simulation approach is generally much easier to carry out as compared to an analytical approach—there is mostly no need for analytical approaches, and one might be crazy to neglect the whole world of statistical simulation. "Efficient", since it costs minimal efforts to get reliable results, and often simulation is the only approach to get results. The simulation approach in data science and statistics is generally a more intuitive ...