Monte Carlo simulation is a computational technique used to model and analyze complex systems or processes. It involves generating multiple random samples of input parameters and running simulations to estimate the behavior and outcomes of the system. By simulating a large number of possible scenarios, Monte Carlo simulation provides researchers with probabilistic predictions and insights into the behavior of the system under different conditions. This technique is widely used in various fields such as finance, engineering, physics, and biology to make informed decisions and improve the understanding of complex systems.