Monte-Carlo simulation
Monte Carlo simulation is like a game where you don't know what is going to happen next. You can try different things and see what happens.
For example, imagine you are playing a game where you have to guess the number between 1 and 10. You don't know the correct answer, so you could simply guess randomly. But then you wouldn't know if your guess is correct or not.
With Monte Carlo simulation, you can try multiple guesses and see what happens. You can guess a few numbers, and track whether you were right or wrong. By doing this over and over again, you can get a better idea of what the right answer might be. The more times you try it, the more accurate your prediction will be.
For example, imagine you are playing a game where you have to guess the number between 1 and 10. You don't know the correct answer, so you could simply guess randomly. But then you wouldn't know if your guess is correct or not.
With Monte Carlo simulation, you can try multiple guesses and see what happens. You can guess a few numbers, and track whether you were right or wrong. By doing this over and over again, you can get a better idea of what the right answer might be. The more times you try it, the more accurate your prediction will be.