What is the name of the method or experiment, which, based on repeated random sampling, obtains numerical results? This was conceptualized by Stanislaw Ulam and the underlying concept utilizes randomness to solve deterministic problems.

The method, or experiment, is named after a casino in Monaco where Ulam's uncle's gambling habits inspired him. The method is widely used in physics, chemistry, biology, also to predict software development.

The limitations include for example trade-off between accuracy and computational cost, curse of dimensionality and reliability of random number generators.

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Answer to yesterday's question: The law is "Little's Law", named after John Little and expressed as L = λW.

In software delivery its three terms map cleanly onto flow: L, the average number of items in the system, is your work in progress (WIP); λ is the average arrival rate, which at steady state equals throughput; and W is the average lead or cycle time. Rearranged as W = L / λ, it states something teams feel but rarely quantify — to shorten lead time you either raise throughput or cut WIP, and cutting WIP is usually the lever you actually control. It's the mathematical backbone behind WIP limits on a Kanban board.