Search results
We did not find results for: monte carlo analysis definition.
Check spelling or type a new query.
We did not find results for: monte carlo analysis definition.
Check spelling or type a new query.
Broad class of computational algorithms using random sampling to obtain numerical results
Monte Carlo methods, or Monte Carlo experiments, are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results. The underlying concept is to use randomness to solve problems that might be deterministic in principle. The name comes from the Monte Carlo Casino in Monaco, where the primary developer of the method, physicist Stanislaw Ulam, was inspire... Wikipedia