Montecarlo method

Monte Carlo is the code word for one of the research projects carried out for the atom bomb during World War II.

The Monte Carlo technique involves the random sampling of each probability distribution within the employed model to produce a multitude of scenarios.

Each probability distribution is sampled in a manner that reproduces the distribution's shape. The distribution of the values calculated for the model outcome reflects the probability of the values that could occur.

Monte Carlo simulation offers many advantages over other techniques.