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#numerical-analysis

Here is an example of a function in PHP that you can use to format a monetary value with two decimal places: function format_money($value) { // Use number_format() to add commas as thousands separators and round to two decimal places $f…

In a nutshell, the concept of Monte Carlo simulation is pretty straightforward; it involves generating random numbers and averaging of the outcome. We can use this technique for evaluating probability…