Numbers are rather useful. This is unfortunate, because they're also rather confusing. Our brains have a hard time making sense of lists of numbers, so we employ an imaginary friend to help us — the ...

The Monte Carlo simulation technique, named for the famous Monaco gambling resort, originated during World War II as a way to model potential outcomes from a random chain of events. It is particularly ...

Monte Carlo simulation — the method of statistical analysis that determines the probability of certain events using a roulette-wheel like generation of random numbers — has become so popular that ...

Unlock the full InfoQ experience by logging in! Stay updated with your favorite authors and topics, engage with content, and download exclusive resources. Traditional caching fails to stop "thundering ...

You can’t predict the future, of course, but that doesn’t stop some financial professionals from trying. Of the many methods devised to anticipate different possible futures in financial planning, ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...