Monte Carlo
Random sampling simulation
Monte Carlo refers to methods that use random sampling to solve problems, named after the famous casino district in Monaco.
In computing and statistics, Monte Carlo simulations run thousands of random trials to estimate probabilities or model complex systems: We used Monte Carlo methods to assess the portfolio's risk.
The term evokes gambling's element of chance applied to rigorous analysis.
Lack of predictable pattern
- stochasticRandomly determined, statistically describable
- samplingExtracting subset for study
- convergenceProcess of approaching sameness
- iterativeInvolving repeated cycles
computation · numerical · Metropolis · Bayesian · integration · variance · bootstrap · resampling
Tiny European nation
- French RivieraSouthern Mediterranean resort coast
- Côte d'AzurSoutheastern French Mediterranean coast
- MediterraneanSea between Europe, Africa, Asia
- Grace KellyActress turned Monegasque royalty
Prince Albert · Opera · tax haven · millionaires · superyachts · glamour · affluence · microstate
Spinning wheel wager
- baccaratCard game targeting nine
- blackjackCard game to twenty-one
- high-rollerLavish casino gambler
- James BondBritish intelligence agent
croupier · gaming room · tuxedo · evening dress · belle époque · chandeliers · minimum bet · exclusivity
Elite single-seater racing championship
- Grand PrixPremier motorsport competition
- street circuitRace track on closed roads
- hairpinU-shaped fastener for tresses
- tunnelEnclosed underground route
chicane · qualifying · pole position · overtaking · barriers · glamour · prestige · WRC
Prestigious Georgia golf event
- ATPCell's energy molecule
- clay courtCrusite tennis surface
- tournamentMulti-round competitive event
- Country ClubPrivate leisure establishment
Nadal · trophy · quarterfinal · semifinal · Rolex
randomness
Lack of predictable pattern
- stochasticRandomly determined, statistically describable
- samplingExtracting subset for study
- convergenceProcess of approaching sameness
iterative · computation · numerical · Metropolis · Bayesian · integration · variance · bootstrap · resampling · optimization
Monaco
Tiny European nation
- French RivieraSouthern Mediterranean resort coast
- Côte d'AzurSoutheastern French Mediterranean coast
- MediterraneanSea between Europe, Africa, Asia
Grace Kelly · Prince Albert · Opera · tax haven · millionaires · superyachts · glamour · affluence · microstate · cityscape
roulette
Spinning wheel wager
- baccaratCard game targeting nine
- blackjackCard game to twenty-one
- high-rollerLavish casino gambler
James Bond · croupier · gaming room · tuxedo · evening dress · belle époque · chandeliers · minimum bet · exclusivity · aristocracy
Formula 1
Elite single-seater racing championship
- Grand PrixPremier motorsport competition
- street circuitRace track on closed roads
- hairpinU-shaped fastener for tresses
tunnel · chicane · qualifying · pole position · overtaking · barriers · glamour · prestige · WRC · motorsport
Masters
Prestigious Georgia golf event
- ATPCell's energy molecule
- clay courtCrusite tennis surface
- tournamentMulti-round competitive event
Country Club · Nadal · trophy · quarterfinal · semifinal · Rolex
- Resort TownsVail, Breckenridge, Park City, Cancun, Key West
- entertainmentmovie, movies, films, band, television
- tennisace, serve, forehand, backhand, volley
- computingcomputer, computers, software, hardware, code
- FranceParis, Notre-Dame, Lyon, croissant, Toulouse
- gamblinggamble, gambling, casinos, casino, bets
Monte CarloLas Vegas
Nevada's gambling capital
austerity · frugality · asceticism · abstinence · prudence