Definitions

1. proper noun

A city in northwest Italy, known for its casinos and luxury resorts, especially the Grand Casino de Monte-Carlo.

“The couple spent a romantic weekend in Monte-Carlo, enjoying the beautiful Mediterranean coastline and the upscale amenities.”

2. noun

A statistical technique used to estimate the probability of different outcomes in a situation where there are a large number of possible outcomes, often used in finance and engineering.

“The researchers used the Monte Carlo method to simulate the possible outcomes of the new investment strategy and determine the most likely return on investment.”