The Monte Carlo technique is a useful simulation that can be used to study both the mathematical model and implicit parameters. This affords insight into the inherent error of calculations when experimental data cannot be gathered or mathematical approaches are too difficult or not feasible. ]n this study, a Monte Carlo statistical code was coupled with the CONCEPT capital cost estimating program to illustrate the accuracy of the cost estimates.nThe CONCEPT program is used to estimate the capital cost of nuclear and fossil-fueled power plants. Knowing the accuracy limitation of these estimates is important for decision-making. This analysis was made only on nuclear (PWR) type power plants in the South. However, the intent of the study was only to indicate the method of analysis, not to be a detailed sensitivity analysis of all parameters.
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