Resource title

Monte Carlo Method

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image for OpenScout resource :: Monte Carlo Method

Resource description

Monte Carlo methods—named after the famous European gambling casino—are a means of numerically simulating chance events in order to predict the most likely future outcome. In other words, Monte Carlo simulations are used to predict a range of different outcomes from a given set of decisions.

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Resource language

en

Resource content type

text/html

Resource resource URL

http://www.referenceforbusiness.com/encyclopedia/Mor-Off/Monte-Carlo-Method.html

Resource license

Copyright © 2011 Advameg, Inc.