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Monte Carlo Simulation
A computational technique that uses random sampling to approximate the probability of various outcomes in a process.
Random Values
Numbers or outcomes generated in a manner that follows no discernible pattern, often used in simulations or statistical sampling.
Uncertain Inputs
Factors or variables in a model or process that have unknown or unpredictable values, affecting outcomes and decision-making.
Monte Carlo Sampling
A statistical technique that utilizes random sampling and probability to solve problems that might be deterministic in principle.
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