Load packages library(tidyverse) library(mosaic) What’s a Monte Carlo simulation? A Monte Carlo Simulation is a numeric approach to solving difficult problems. Instead of having an analytic way of solving the problem, one just says “ok, let’s try it out and see what happens”. Coin flip distribution Simalatin a single coin flip (Bernoulli) distribution can be achieved like this: rflip() #> #> Flipping 1 coin [ Prob(Heads) = …