Teaching Monte Carlo Simulation with Python

Figures & data

Fig. 1 Coin toss simulation in Google Sheets, used to scaffold student learning in Python (Holman 2019).

Fig. 2 Coin toss simulation in Python on Repl.it: https://replit.com/ @statsprof/Sim1CoinToss.

Fig. 3 Coin toss simulation graphic output on Repl.it: https://replit.com/ @statsprof/Sim1CoinToss.

Fig. 4 Graphic displaying repeated trial results for coin flip simulation.

Fig. 5 Dice game simulation on Repl.it: https://replit.com/@statsprof/Sim2DiceGame.

Fig. 6 Dice game simulation with betting: https://replit.com/@statsprof/Sim2DiceGame-PlusBetting.

Fig. 7 Distribution of S&P 500 Stock Market Index annual returns (%) from 1926 to 2018.

Fig. 8 Stock market simulation: https://replit.com/@statsprof/Sim3StockMarket.

Table 1 The proportion of students indicating that they “Strongly Agree” with each question about the course is shown here for the 2018 Spring and 2019 Spring Advanced Statistics Course.

	2018	2019
Question text	Advanced statistics	Advanced statistics	Difference
Pace of course (is appropriate)	0.54	0.72	+ 0.18
Grading system is fair	0.71	0.86	+ 0.15
Prompt grading of work	0.71	0.84	+ 0.13
Instructor made use of class time	0.74	0.91	+ 0.17
Made difficult material understandable	0.60	0.70	+ 0.10
Communicates ideas clearly	0.63	0.81	+ 0.18
Responded to student questions	0.74	0.81	+ 0.07
Available outside of class	0.69	0.84	+ 0.15
Set and maintained high standards	0.71	0.86	+ 0.15
Encouraged critical thinking and analysis	0.74	0.91	+ 0.17
Instructor facilitated class participation	0.57	0.84	+ 0.27
Treated students with respect	0.83	0.88	+ 0.05
Communicated enthusiasm for the course	0.77	0.84	+ 0.07
Teaching strategies enhanced learning	0.63	0.72	+ 0.09
Text was effective	0.26	0.65	+ 0.39
Instructor was a successful teacher	0.66	0.91	+ 0.25
Learned from the course	0.66	0.79	+ 0.13
Average	0.66	0.82	+ 0.16

Holman, J. O. (2019), “Teaching Simulation Methods with Google Sheets as a Gentle Introduction to Statistical Computing with Python,” Business Education Innovation Journal, 11, 125.

 Google Scholar