Monte Carlo Simulation
Monte Carlo Simulation is a way to run the same random test many times to see what outcomes are most likely.
Think of it this way
Roll a die a thousand times to find which number wins most often. A computer does this millions of times in seconds. The results show you what will probably happen.
Explaining monte carlo simulation by grade level
Think about flipping a coin to guess who wins a baseball game. One flip might not tell you much. But if you flip the coin a hundred times, you start to see a pattern. The more times you try, the clearer the pattern gets.