The Monte Carlo Method

The Monte Carlo Method is a statistical technique used to understand complex systems and make predictions. It involves running many random simulations to explore different possible outcomes of a situation. For example, if you want to predict how a game might turn out, you simulate the game thousands of times with different variables. By analyzing these results, you can estimate probabilities and make informed decisions. This method is widely used in finance, engineering, and science to handle uncertainty and assess risks, providing a powerful tool for decision-making in various fields.