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id:
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tags:
  - topic/math
  - topic/risk
  - type/encyclopedia
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# Monte Carlo Methods

> [!quote]
> [Monte Carlo methods](https://en.wikipedia.org/wiki/Monte_Carlo_method),
> 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.

Popular examples of Monte Carlo methods include
estimating the area of an irregular shape
by randomly sampling points in a known area,
and estimating the value of pi
by tossing toothpicks onto a ruled surface.

[Professor Art Owen](https://artowen.su.domains/) at Stanford University
has several excellent resources on the subject.
