Word
monte carlo
Definition
n. a computer method that solves complex problems by running thousands of random simulations to see all the possible outcomes.
n. a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results for problems that are intractable via closed-form analysis.
Examples
“The team used a Monte Carlo simulation to estimate the probability of rain during the championship game.”
“In finance, risk analysts run Monte Carlo simulations across market variables to stress-test investment portfolios under uncertain economic conditions.”
“Monte Carlo tree search balances exploration and exploitation by recursively sampling simulated game rollouts to guide decision-making in high-dimensional state spaces.”
Examples
simple
“The team used a Monte Carlo simulation to estimate the probability of rain during the championship game.”
contextual
“In finance, risk analysts run Monte Carlo simulations across market variables to stress-test investment portfolios under uncertain economic conditions.”
complex
“Monte Carlo tree search balances exploration and exploitation by recursively sampling simulated game rollouts to guide decision-making in high-dimensional state spaces.”
Real-World Examples
“The scientists are referring to Monte Carlo simulations, a statistical technique used to model probabilistic systems and establish the odds for a variety of outcomes.” “Monte Carlo simulation is a statistical technique where sample data are generated repeatedly from a known population model and are then analyzed in each sample.” Etymology
Named in the 1940s by physicists Stanislaw Ulam and John von Neumann during the Manhattan Project at Los Alamos. Ulam was inspired by his uncle who frequently borrowed money to gamble at the famous Monte Carlo Casino in Monaco, reflecting the method's reliance on chance and repeated random trials.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
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