from The American Heritage® Dictionary of the English Language, 4th Edition
- A town of Monaco on the Mediterranean Sea and the French Riviera. It is a noted resort famed for its casino and luxurious hotels. Population: 15,500.
- adj. Of or relating to a problem-solving technique that uses random samples and other statistical methods for finding solutions to mathematical or physical problems.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- proper n. A part of Monaco famous for its casinos.
- proper n. A commonly served drink consisting of beer and grenadine.
- proper n. Shortening of Monte Carlo method.
- proper n. An informal dance competition, where contestants in one quarter of the floor are eliminated by a randomly chosen card representing the corner.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. a town and popular resort in the principality of Monaco; famous for its gambling casino
Another Ulam invention at Los Alamos was what we call the Monte Carlo method for solving complicated mathematical problems - originally the integrals that arise in the theory of nuclear chain reactions.
It is a most quaint and interesting little place, wearing a look of mediæval times, and still possessing many traces of former prosperity, though now chiefly remarkable for its legalised gambling facilities, for which reason it is frequently called the Monte Carlo of the Far East, there being also a certain natural resemblance.
The method used for all of these is called a Monte Carlo search framework.
Thus the name Monte Carlo can convey to an automobile a prestige that the real trip to Monte Carlo has long since lost.
The name Monte Carlo attached to an American-made car trades on the American consumer's image of a once-exclusive vacation spot, now available as part of low-cost travel packages.
He runs 10,000 of them daily using a type of algorithm called a Monte Carlo analysis, which I couldn't even begin to try to explain (Nate can, though -- the FAQs on the 538 site are very clear and thorough).
Over the years, formal quantitative uncertainty assessments -- known as Monte Carlo analyses -- have become common in a variety of fields, including engineering, finance, and a number of scientific disciplines, as well as in "sabermetrics" (quantitative, especially statistical analysis of professional baseball), but rarely have such methods been employed in RIAs.
(These calculations are based on computer models known as Monte Carlo simulations, which consider thousands of scenarios for the markets.)
The Monte Carlo is the only thing that's on fire right now on the strip.
This method of generating random data is called Monte Carlo analysis, after the famous casino, and it is widely used in statistical analysis to test procedures.
<a href="http://althouse.blogspot.com/2007/03/do-you-think-that-majority-of-democrats.html" title=""Do you think that a majority of Democrats in Congress would like to see us lose in Iraq for political reasons? Yes... 84%.