Monte Carlo Integration
<p>The modern variant of the “Monte Carlo Methods” can be traced back to the Los Alamos Laboratory in the 1940s, where it was originally developed to assist with modeling the nuclear fission process, in particular, simulating the mean free path of neutrons in fissile materials. Rather than solve the diffusion path of neutrons deterministically, a statistical sampling approach was applied — and it worked brilliantly. Since then, the term “Monte Carlo Method” has grown to take on a wide range of meanings depending on what field in which it is being applied. However, all applications of Monte Carlo have in common the basic principle of <em>using statistical sampling to solve a deterministically difficult-to-solve problem.</em></p>
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