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Monte Carlo method

Syllabification: (Mon·te Car·lo meth·od)
Definition of Monte Carlo method

noun

Statistics
  • a technique in which a large quantity of randomly generated numbers are studied using a probabilistic model to find an approximate solution to a numerical problem that would be difficult to solve by other methods.

Origin:

1940s: named after Monte Carlo (see Monte Carlo), a resort famous for its gambling casino

Monte Carlo method in other Oxford dictionaries

Definition of Monte Carlo method in the British & World English dictionary