Monte Carlo method

n. In statistics, any technique which generates sequences of random numbers which are used as data in simulating a probabilistic process for which no algorithm is available. As an example, the tossing of a coin 10 times could be simulated by generating a random series of 1s and 0s in groups of 10 many times and then counting the relative frequency of 1s and 0s in the samples in order to estimate the distribution of outcomes likely were one actually to toss a fair coin 10 times.