Usually means: Statistical simulation using random sampling.
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We found 24 dictionaries that define the word Monte Carlo:

General (16 matching dictionaries)
  1. monte carlo: Longman Dictionary of Contemporary English
  2. Monte Carlo: Merriam-Webster
  3. Monte Carlo: Oxford Learner's Dictionaries
  4. Monte Carlo, Monte Carlo: American Heritage Dictionary of the English Language
  5. Monte Carlo: Collins English Dictionary
  6. Monte Carlo: Vocabulary.com
  7. Monte-Carlo: Wordnik
  8. Monte Carlo: Wiktionary
  9. Monte Carlo: Infoplease Dictionary
  10. Monte Carlo: Dictionary.com
  11. Monte-Carlo, Monte Carlo (biscuit), Monte Carlo (disambiguation), Monte Carlo (miniseries), Monte Carlo (musical), Monte Carlo (radio programme), Monte Carlo (video game), Monte Carlo (yacht), Monte Carlo, Monte carlo: Wikipedia, the Free Encyclopedia
  12. Monte carlo: Rhymezone
  13. monte carlo: FreeDictionary.org
  14. monte carlo: Mnemonic Dictionary
  15. Monte Carlo: TheFreeDictionary.com
  16. Monte Carlo: Merriam-Webster

Business (1 matching dictionary)
  1. INVESTORWORDS (No longer online)

Computing (2 matching dictionaries)
  1. Monte Carlo: Free On-line Dictionary of Computing
  2. Monte-Carlo, Monte Carlo: Encyclopedia

Medicine (1 matching dictionary)
  1. online medical dictionary (No longer online)

Science (1 matching dictionary)
  1. Monte Carlo, Monte Carlo: PlanetMath Encyclopedia

Slang (1 matching dictionary)
  1. monte carlo: Urban Dictionary

Sports (1 matching dictionary)
  1. Monte Carlo: Backgammon

Tech (1 matching dictionary)
  1. AUTOMOTIVE TERMS (No longer online)

Definitions from Wiktionary (Monte Carlo)

noun:  A part of Monaco famous for its casinos.
noun:  A commonly served drink consisting of beer and grenadine.
noun:  An informal dance competition, where contestants in one quarter of the floor are eliminated by a randomly drawn card representing the corner.
noun:  (statistics) Ellipsis of Monte Carlo method. [(mathematics, statistics) Any of a class of techniques for estimating the solution of a numerical mathematical problem by means of a random artificial sampling experiment that simulates the problem.]

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