Monte Carlo method (redirected from Monte carlo software)

Monte Carlo method

Statistical method of approximating the solution of complex physical or mathematical systems. The method was adopted and improved by John von Neumann and Stanislaw Ulam for simulations of the atomic bomb during the Manhattan Project. Because the method is based on random chance, it was named after a gambling resort.

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Monte Carlo method

A technique that provides approximate solutions to problems expressed mathematically. Using random numbers and trial and error, it repeatedly calculates the equations to arrive at a solution. Many of the Monte Carlo methods and practices used to be referred to as rather generic "statistical sampling." Monte Carlo, of course, is a historical reference to the famous casino in Monaco.

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Monte Carlo method [′män·tē ′kär·lō ‚meth·əd]

(statistics)

A technique which obtains a probabilistic approximation to the solution of a problem by using statistical sampling techniques.