Valuation involves the analyses of various input data to produce an estimated value.Since each input is itself often an estimate, there is an element of uncertainty in Handbags the input.This leads to uncertainty in the resultant output value.It is argued that a valuation must also convey information on the uncertainty, so as to be more meaningful and informative to the user.
The Monte Carlo simulation technique can generate the information on uncertainty and is therefore potentially useful to valuation.This paper reports on the investigation that has been conducted to apply Monte Carlo simulation technique in mineral valuation, more Wiring Harness specifically, in the valuation of a quarry concession.