Business owners make a careful research of cash flow for their business. She has to make sure that the inputs of business have the cost that she had forecasted. In this article, we will discuss about the Monte Carlo Analysis.
Monte Carlo Analysis gets its name from the principality Monte Carlo, which is known for its casinos. The nomenclature was done by S. Ulam in 1946. He was the first mathematician to provide this approach a name of its own to honor a family member who had an uncanny attraction towards gambling.