Monte Carlo simulation (MCS) applies repeated random sampling (randomness) to obtain numerical results for deterministic problem solving. It is widely used in optimization, numerical integration, and risk-based decision making. Probability and cumulative density functions are statistical measures that apply probability distributions for random variables, and can be used in conjunction with MCS to solve deterministic problem.
Reader can refer to the download source code file to see color figs in this chapter.
The 1st example ...