Monte Carlo simulation — the method of statistical analysis that determines the probability of certain events using a roulette-wheel like generation of random numbers — has become so popular that ...

Monte Carlo simulations have become a cornerstone in quantitative finance, particularly in the pricing of complex options and in modelling volatility dynamics. This numerical method employs random ...

Researchers have developed a highly efficient method to investigate systems with long-range interactions that were previously puzzling to experts. These systems can be gases or even solid materials ...

With highly specialized instruments, we can see materials on the nanoscale – but we can’t see what many of them do. That limits researchers’ ability to develop new therapeutics and new technologies ...

When it comes to using data to personalize medicine, Google and a UK hospital group’s partnership to build a personalized healthcare app – using 1.6 million health records – is really just the tip of ...

Buoyancy corrections can become important when the density of the object being weighed is very different from the density of the masses employed for the calibration function. For example, this is true ...

Humanity pretty much has Pi figured out at this point. We’ve calculated it many times over and are confident about what it is down to many, many decimal places. However, if you fancy estimating it ...

This will likely come as a surprise, but the way engineers perform Monte Carlo analysis and assess the results, is likely incorrect. Misinterpreting Monte Carlo results can lead to the wrong technical ...