In MATH1402 file, there a simulation on Ant's movement. Suppose there's a triangle, there's also an ant on the triangle. Suppose we want to know the approximate probability of the ant leaving at the longest side, hence I used Monte Carlo Approach to do it.
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The modern form of Monte Carlo dates back the 1940s when the following scientists Enrico Fermi (Physicist), Stanislaw Ulam (Mathematician) and John Von Neumann whilst working Los Alamos Scientific Laboratory which was part of the Manhattan Project.Fermi in the 1930s had done work regarding Monte Carlo as way of approximation but it was a highly rigorous and time consuming and failed to gain traction. In the 1940s when he met with John Von Neumann the combination of Fermi’s approximation method and Von Neumann’s computer knowledge where able to use it calculate approximations with high degree of accuracy. In modern finance it is used as financial concepts have got more complicated to be able to approximate accurate financial scenarios.