It is once again Pi Day (March 14—which is like the first digits of pi: 3 and 14). Before getting into this year's celebration of pi, let me just summarize some of the most important things about this ...

To figure out an estimate of the fair present value of such plans, companies and executive compensation consultants often use what's called a "Monte Carlo method" from statistics.

The assessment of statistical significance by Monte Carlo simulation may be costly in computer time. This paper looks at a number of ways of calculating exact Monte Carlo p-values by sequential ...

The search for the accurate value of pi led not only to more accuracy, but also to the development of new concepts and techniques, such as limits and iterative algorithms, which then became ...

Bursts of calculations of even more digits of pi followed the adoption of iterative algorithms, which repeatedly build an updated value by using a calculation performed on the previous value.