25 lines
762 B
Markdown
25 lines
762 B
Markdown
---
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id:
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aliases: []
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tags:
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- topic/risk
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- type/encyclopedia
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---
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# Monte Carlo Methods
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> [!quote]
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> [Monte Carlo methods](https://en.wikipedia.org/wiki/Monte_Carlo_method),
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> or Monte Carlo experiments, are a broad class of computational algorithms
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> that rely on repeated random sampling to obtain numerical results.
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> The underlying concept is to use randomness to solve problems
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> that might be deterministic in principle.
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Popular examples of Monte Carlo methods include
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estimating the area of an irregular shape
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by randomly sampling points in a known area,
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and estimating the value of pi
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by tossing toothpicks onto a ruled surface.
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[Professor Art Owen](https://artowen.su.domains/) at Stanford University
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has several excellent resources on the subject.
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