• Entry
  • Reader's guide
  • Entries A-Z
  • Subject index

Monte Carlo Simulation

Monte Carlo simulation is the use of computer ALGORITHMS and pseudo-random numbers to conduct mathematical experiments on statistics. These experiments are used to understand the behavior of statistics under specified conditions and, ultimately, to make inferences to population characteristics. Monte Carlo ...

    • Loading...
    locked icon

    Sign in to access this content

    Get a 30 day FREE TRIAL

    • Watch videos from a variety of sources bringing classroom topics to life
    • Read modern, diverse business cases
    • Explore hundreds of books and reference titles