Monte Carlo algorithm

Monte Carlo method applied to approximating the value of π. After placing 30000 random points, what is the probability that the estimate for π is within 0.07% of the actual value?

A Monte Carlo algorithm is an algorithm for computers. It is used to simulate the behaviour of other systems. It is not an exact method, but a heuristical one. Usually it uses randomness and statistics to get a result.

It is a computation process that uses random numbers to produce an outcome(s). Instead of having fixed inputs, probability distributions are assigned to some or all of the inputs. This will generate a probability distribution for the output after the simulation is run.