Monte Carlo


An analytical technique in which a large number of simulations are run using random quantities for uncertain variables and looking at the distribution of results to infer which values are most likely. The name comes from the city of Monte Carlo, which is known for its casinos.

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The monte carlo technique was really efficient and we knew it would give us exactly what we were looking for.

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You may want to try and use a monte carlo to figure out if there is anything that you need to change in your business.

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The scientists were having trouble getting results with their testing of a certain drug, so they decided to use the monte carlo approach using different scenarios with random amounts using mice.

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