Monte Carlo method

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Monte Carlo method

n.
A computer-simulation technique that uses random samples and other statistical methods to find approximate solutions to mathematical or physical problems.

[After Monte Carlo.]

Monte Carlo method

n
(Statistics) a heuristic mathematical technique for evaluation or estimation of intractable problems by probabilistic simulation and sampling
[C20: named after the casino at Monte Carlo, where systems for winning at roulette, etc, are often tried]
References in periodicals archive ?
SKODA has made its special edition Citigo Monte Carlo model available on the Motability scheme for the first time.
SKODA has made its special edition Citigo Monte Carlo model, pictured, available on the Motability scheme for the first time.
A NEW limited edition version of Skoda's Fabia Monte Carlo model, but with more kit at no extra cost, is being launched by the Czech brand.
If the Monte Carlo model suggests that 95 percent of the drivers, when presented with this hazard, would have been involved in the collision, then it is very difficult to argue that the driver of the approaching vehicle should be penalized because he or she was not in the top 5 percent of all drivers.
The Monte Carlo model also allows analysts to treat inputs as variables and generate options or uncertainties (randomness).
Fifth, the Monte Carlo model should include risks dictated by the results of the qualitative stage (a goal of which is to identify risks that do not need to be modeled quantitatively to know their effect and possible actions).
In summary, when there is uncertainty in several decision-making parameters, when the uncertainty in more than one parameter is potentially material, when there is no practical way to model the resulting uncertainty in a convenient parametric form, and when the decision makers are comfortable with their estimates of underlying uncertainty, then the Monte Carlo model can provide useful insights into the risk inherent in a decision.
The results of the Monte Carlo model are compared to measurable properties such as gloss, fracture toughness, and wetting contact angle, using various published correlations of the property to the surface topology.
The results will be incorporated into a quantitative risk analysis Monte Carlo model and combined with economic data.
6 TDI CR 105PS diesel engines, the TECH is based on the Monte Carlo model, but adds Amundsen sat-nav and Bluetooth connectivity as standard.
He begins with a simple Monte Carlo model option pricer, then moves on the encapsulation, inheritance and virtual functions, bridging with a virtual constructor, strategies, decoration and statistics, a random numbers class, an exotics engine and the template pattern, trees, solvers, templates, implied probabilities, and the factory.
NIST scientists are implementing a scheme to make distinctions that are based upon matching measured images to a library of images corresponding, as determined by Monte Carlo model calculations, for a variety of line shapes and widths.
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