Pete Rathburn is a copy editor and fact-checker with expertise in economics and personal finance and over twenty years of experience in the classroom. Getty Images / Monty Rakusen Analysts can assess ...

Brief review of conditional probability and expectation followed by a study of Markov chains, both discrete and continuous time. Queuing theory, terminology, and single queue systems are studied with ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Monte Carlo simulations predict investment risks and returns using computer models. They enable investors to assess outcomes under various market conditions. Accessible tools like online calculators ...

Bob’s financial advisor just ran a “Monte Carlo analysis” for him.What’s a “Monte Carlo analysis”?It’s a tool used to test how a person’s retirement savings and plan would hold up given a variety of ...

Advisors and websites often show clients the results of large numbers of Monte Carlo simulations. It is hoped that clients will be calmed by pursuing avenues predicted to have a 90% chance of success.