Monte Carlo Simulation using JAVA

This repository is implementation of Monte Carlo Simulations on various scenarios / use cases.

Introduction:

Monte Carlo simulations are used to model the probability of different outcomes in a process that cannot easily be predicted due to the intervention of random variables. It is a technique used to understand the impact of risk and uncertainty in prediction and forecasting models.

Monte Carlo simulation can be used to tackle a range of problems in virtually every field such as finance, engineering, supply chain, and science.

Monte Carlo simulation is also referred to as multiple probability simulation.

Use cases

1. Casino Game: The house always wins.

• Link: https://towardsdatascience.com/the-house-always-wins-monte-carlo-simulation-eb82787da2a3
• METHOD: POST
• URL: http://localhost:8080/Simulation/casinoGame

{
  "amount": 1000,
  "betAmount": 10,
  "gameSize": 10000,
  "winRatio": 0.50
}