### Monte Carlo Simulation Monte Carlo Simulation is a type of **probabilistic** model. **probabilistic**: Processes with randomness and uncertainty involved. Same input may have different output. **deterministic**: Processes with no randomness and uncertainty involved. Same input always has same output. ### 5.1 Simulating Deterministic Behavior: Area Under a Curve Suppose $y = f(x)$, where $0 \leq f(x) \leq M$ and $a \leq x \leq b$