What is another word for Monte Carlo Method?
Pronunciation: [mˈɒnti kˈɑːlə͡ʊ mˈɛθəd] (IPA) 
The Monte Carlo Method is a well-known numerical simulation technique used in statistics, physics, and other fields. Although the term "Monte Carlo Method" is widely used, there are several synonyms and related terms that refer to the same idea or methodology. These include statistical simulation, random simulation, stochastic simulation, and sampling-based methods. Each of these terms highlights a different aspect of the Monte Carlo Method, but they essentially all involve using random numbers to simulate a certain process or system and estimate its properties. While the term "Monte Carlo" originated from the famous casino city in Monaco, the method has since expanded to become a powerful tool used in diverse fields.
