zmVault/monte-carlo-methods.md

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status/draft topic/math topic/risk type/encyclopedia-entry	Monte Carlo Methods

Monte Carlo Methods

[!quote] Monte Carlo methods 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.

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 at Stanford University has several excellent resources on the subject.