Monte Carlo Method
Monte Carlo Method is a computational technique that uses random sampling and statistical analysis to solve mathematical problems. It is a simulation-based approach that involves generating a large number of random samples to obtain numerical results. The method is widely used in various fields of science and engineering, including finance, physics, and computer science. In data science, Monte Carlo Method is used for statistical inference, optimization, and simulation of complex systems. It is particularly useful when analytical solutions are not available or too difficult to obtain. The method involves creating a model of the system under study, generating random inputs, and simulating the behavior of the system. The results are then analyzed statistically to estimate the behavior of the system under different conditions.
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