Solving optimization models using Monte Carlo method

This Bachelor's thesis is dedicated to Monte Carlo methods and its utilization when solving optimization problems and is also focused on optimization systems for modelling stochastic programs in Microsoft Excel. Monte Carlo Methods are used in analysis of models with non-deterministic inputs. Monte Carlo Methods can be used in operation research where parameters of the model cannot be determined explicitly, but instead where these parameters are described using probability density function. This thesis explains basic principles and Crystal Ball and @RISK software is used to solve those operation research and mathematic optimization problems. There applications are Add-Ins for Microsoft Excel. Both of those applications have optimization modules.