Monte Carlo simultion method is a technique to find numerical data for the behavior of a system (like variability, reliability, success rate, blah blah blah), where the exact computation of such data through analytical means is impossible. Such cases might arise in multi-variable equation, each with different probability distribution.
Now, from one of the best books on this method, this is what the author wrote on the first page.
"Monte Carlo is an extremely bad method, it should be used only when all alternate methods are worse"
Interesting, isn't it?
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