Practical Applications of Monte Carlo Simulation for System Reliability Analysis
In this chapter, we shall illustrate some applications of MCS applied to system reliability analysis. First, the power of MCS for realistic system modeling is shown with regard to a problem of estimating the production availability of an offshore plant, accounting for its operative rules and maintenance procedures . Then, the application of MCS for sensitivity and importance analysis [1, 2] is illustrated.
KeywordsTransportation Glycol Flare Laurin
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