The Monte Carlo simulation estimates the probability of different outcomes in a process that cannot easily be predicted because of the potential for random variables.
Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...
The Annals of Probability, Vol. 36, No. 1 (Jan., 2008), pp. 143-159 (17 pages) It is shown that functions defined on {0, 1,..., r - 1}ⁿ satisfying certain conditions of bounded differences that ...