Monte Carlo Simulation

Posted in Finance, Accounting and Economics Terms, Total Reads: 1446

Definition: Monte Carlo Simulation

Monte Carlo simulation is a method of solving problems used to check the consequences of various outcomes by applying various permutations and combinations which are also called trial and error runs or simulations using different variables.

Monte Carlo Simulation was developed in Monaco, where there are a lot of casinos and people apply the various permutations and combinations to win in casinos as it is a game of chance.

Browse the definition and meaning of more terms similar to Monte Carlo Simulation. The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary

Share this Page on:
Facebook ShareTweetShare on G+Share on Linkedin