Definitions for "Monte Carlo simulation"
Monte Carlo simulation is a method by which investors can anticipate the probability of meeting specific financial goals at certain time periods in the future. This is accomplished by generating thousands of possible paths (or scenarios) that investments might take during the years until the investor is ready to retire or cash out.
Computer experiments of complex relationships that simulate and analyse sequences of events using random numbers controlled by a specified distribution function.
method for calculating the probabilities of outcome s by simulation, running a model many time s, using a computer. A Monte Carlo model is an example of a "stochastic" model. [D05026] RAMP The technique used by project management application s to estimate the likely range of outcome s from a complex random process by simulating the process a large number of time [D01051] WST See Monte Carlo Method. [D03623] RMW
a mathematical tool that offers a way to evaluate a retirement portfolio to see if it will last a lifetime