What is the Monte Carlo Simulation?

Question

for the longest time i thought it was just a dessert. gordon ramsay has failed me

In: Mathematics

Answer 1

Monte Carlo is a city famous for casinos (games of chance). As a process it is the randomization (chance) of all the variables and denoting the outcome. I used it in electronic circuit analysis. Varying all the electronic components within the design tolerances to make sure the circuit works as expected. In basic electronics the components are assumed to be exact but in reality the physical parts have slight variances in values, usually 5-10% variance. It is important to make sure the the design works not just in theory but in the physical.