A simulation is "Monte Carlo" when the elements of a system being simulated exhibit chance in their behavior.

Name: A simulation is "Monte Carlo" when the elements of a system being simulated exhibit chance in their behavior.
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A Monte Carlo simulation is a model used to estimate the probability of different outcomes using random sampling. It is appropriate when the system being simulated exhibits randomness or chance in its behavior.

A Simulation Is "Monte Carlo" When the Elements of a System