Full Python code that I walked through in this video: https://github.com/dawnxchoo/random_a...

Build a Monte Carlo simulation in Python with me.. from mapping possible futures with a decision tree to running 10,000 simulations and visualizing the distribution of outcomes.

Using a construction-project example, I’ll show you how random numbers, probabilities, and conditional branches become a working Python simulation.

In this video, you’ll learn:

What a Monte Carlo simulation is
When Monte Carlo simulations are useful
How to model uncertainty with a decision tree
How conditional probabilities affect future outcomes
How to build a Monte Carlo simulation in Python
How to plot and interpret the resulting distribution

We’ll also cover when Monte Carlo simulations are useful, how they differ from machine learning, and other applications such as sales forecasting, the World Cup, and NCAA brackets.

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