Monte Carlo Simulation
Monte Carlo Simulation is a method of estimating the value of an unknown quantity using principles of inferential statistics.
Inferential statistics includes population, and sample. The inferential part is that a random sample exhibits the same properties as the population from which it is drawn.
For instance; Draw a small sample of 100 random walks. Compute the mean of that sample, and then you may expect it to be similar to what the mean would be for all possible walks of 10,000 steps. Note that this is only a true property if the sample is random.