Monte Carlo simulation is simulation of a random phenomena using pseudo-random numbers . This type of simulation is widely used in practical statistics, e.g. in resampling , in queuing theory .

The goal of Monte Carlo simulation is not necessarily simulation of stochastic phenomenon. Monte Carlo simulation is often used for approximate numerical computation - when application of strict methods requires too much calculation.

See also short courses

Introduction to Resampling Methods

and Advanced Resampling Methods