Number of Replications Required in Monte Carlo Simulation Studies: A Synthesis of Four Studies

Authors

Daniel J. Mundform, New Mexico State UniversityFollow
Jay Schaffer, University of Northern ColoradoFollow
Myoung-Jin Kim, Illinois State UniversityFollow
Dale Shaw, University of Northern ColoradoFollow
Ampai Thongteeraparp, Kasestart University, Bangkean, Bangkok, ThailandFollow
Pornsin Supawan, Rajabhat Rajanagarindra University, Chacoengsao, Chaiyaphum, ThailandFollow

Abstract

Monte Carlo simulations are used extensively to study the performance of statistical tests and control charts. Researchers have used various numbers of replications, but rarely provide justification for their choice. Currently, no empirically-based recommendations regarding the required number of replications exist. Twenty-two studies were re-analyzed to determine empirically-based recommendations.

DOI

10.22237/jmasm/1304222580