ELI5: Explain Like I'm 5

Monte Carlo simulation

Monte Carlo simulation is a way of predicting the outcome of something by running a simulation many times. It works by "imitating" randomness - like flipping a coin, rolling a die, or shuffling a deck of cards - and calculating a result based on the "random" choices that were made. For example, let's say you're playing a game where you have to roll a dice. In order to predict how many times you'll need to roll the dice to win the game, you could use Monte Carlo simulation. You would set up a simulation where you roll the dice and count how many times it takes until you win the game. You would then repeat the simulation a few hundred or thousand times, counting how many times you win each time. This would give you an idea of how likely it is that you will win the game, and how many times you might need to roll the dice in order to win. The more times you run the simulation, the more accurate your prediction.