7.1 due Nov 17 17

Difficult:

I'm afraid I don't really get what a Monte Carlo method is. I get that it's important, and that it provides a good model of the real world, but besides the formulas that they provide us with, I don't get where they come from or how they're used.

Application:

Well, just from the name, the Monte Carlo method being named for a casino makes me laugh. I wonder if that's because the casino makes money from it, or people make money from the casino using these? Also, being able to approximate an integral with a sum, I think, would be much more efficient, helping with a lot of computation times and such.

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