DSDE Article Detail Page Monte Carlo Integration in Python


SPE Publications 

What is Monte Carlo Integration? Monte Carlo, is in fact, the name of the world-famous casino located in the eponymous district of the principality of Monaco on the world-famous French Riviera. It turns out that the casino inspired the minds of famous scientists to devise an intriguing mathematical technique for solving complex problems in statistics, numerical computing, and system simulation. One of the first and most famous uses of this technique was during the Manhattan Project when the chain-reaction dynamics in highly enriched uranium presented an unimaginably complex theoretical calculation to the scientists. Even the genius minds such as John Von Neumann, Stanislaw Ulam, and Nicholas Metropolis could not tackle it in the traditional way.

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