{"id":7446,"date":"2015-01-26T11:46:59","date_gmt":"2015-01-26T11:46:59","guid":{"rendered":"https:\/\/www.techopedia.com\/definition\/monte-carlo-method\/"},"modified":"2015-01-26T11:46:59","modified_gmt":"2015-01-26T11:46:59","slug":"monte-carlo-method","status":"publish","type":"definition","link":"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method","title":{"rendered":"Monte Carlo Method"},"content":{"rendered":"<h2><span id=\"what_does_monte_carlo_method_mean\">What Does Monte Carlo Method Mean?<\/span><\/h2>\n<p> The Monte Carlo method is a mathematical procedure or algorithm in which random numbers are run through some model or simulation to observe the properties of large sets of results.<\/p>\n<h2><span id=\"techopedia_explains_monte_carlo_method\">Techopedia Explains Monte Carlo Method<\/span><\/h2>\n<p> Monte Carlo method algorithms are used in many different kinds of cases to analyze projects or models that are not responsive to deterministic analysis. For example, the Monte Carlo method can be used to look at the dispersion of liquids or gases to evaluate the structural properties of chemical elements or to help determine the probable outputs for a set of games or processes.<\/p>\n<p>The Monte Carlo method is generally attributed to Stanislaw Ulam, who worked at Los Alamos Laboratory in New Mexico in the 1940s. It was named after a casino because of the application of this type of algorithm to games of chance. It has since become an important part of mathematical analysis and was programmed into John von Neumann\u2019s ENIAC computer shortly after its discovery.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What Does Monte Carlo Method Mean? The Monte Carlo method is a mathematical procedure or algorithm in which random numbers are run through some model or simulation to observe the properties of large sets of results. Techopedia Explains Monte Carlo Method Monte Carlo method algorithms are used in many different kinds of cases to analyze [&hellip;]<\/p>\n","protected":false},"author":7813,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"definitioncat":[241,216],"class_list":["post-7446","definition","type-definition","status-publish","format-standard","hentry","definitioncat-computer-science","definitioncat-software-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the Monte Carlo Method? - Definition from Techopedia<\/title>\n<meta name=\"description\" content=\"This definition explains the meaning of Monte Carlo Method and why it matters.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monte Carlo Method\" \/>\n<meta property=\"og:description\" content=\"This definition explains the meaning of Monte Carlo Method and why it matters.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method\" \/>\n<meta property=\"og:site_name\" content=\"Techopedia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/techopedia\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@techopedia\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method\"},\"author\":{\"name\":\"Margaret Rouse\",\"@id\":\"https:\/\/www.techopedia.com\/#\/schema\/person\/f5dd538e31ee352d105b8af36c4268a5\"},\"headline\":\"Monte Carlo Method\",\"datePublished\":\"2015-01-26T11:46:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method\"},\"wordCount\":173,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.techopedia.com\/#organization\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method#respond\"]}],\"articleSection\":\"\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method\",\"url\":\"https:\/\/www.techopedia.com\/definition\/14474\/monte-carlo-method\",\"name\":\"What is the Monte Carlo Method? 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