Randomness is clearly important in computer games and in the Premium Bond prize draw. But it is perhaps surprising that random numbers can also help us find the solution to well-defined business problems. This lecture looks at the role of randomness in computer algorithm, conducting a live experiment to use random numbers to calculate the mathematical constant π. Random numbers can be a valuable problem-solving tool, used to help solve difficult industrial problems and determine the optimal choice of business strategies.
The transcript and downloadable versions of the lecture are available from the Gresham College website: http://www.gresham.ac.uk/lectures-and-events/might-as-well-toss-a-coin-how-random-numbers-help-us-find-exact-solutions
Gresham College has been giving free public lectures since 1597. This tradition continues today with all of our five or so public lectures a week being made available for free download from our website. There are currently over 1,500 lectures free to access or download from the website.
Professor Tony Mann
Head of Department, Mathematical Sciences, Univeristy of Greenwich