What is Monte Carlo Simulation?

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Monte Carlo Simulation, also known as the Monte Carlo Method or a multiple probability simulation, is a mathematical technique, which is used to estimate the possible outcomes of an uncertain event. Watch master inventor Martin Keen explain how Monte Carlo Simulation may be your closest thing to a time machine – or more simply – how it may be a way to look into the future for making business decisions.

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Duration: 00:04:35
Publisher: IBMcloud
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