Monte Carlo write up. Looking for the following below.

Looking for general information of what a Monte Carlo is.

In your modelling and write up, please cover the following: a) Describe the fundamental drivers behind the model. b) Outline a key application where this model is used for hedging and an example of how it could be used for speculation. c) Use some simple quantitative example to highlight the points in b). d) Describe a situation from practice when the model was (or could be) an outstanding success and another situation where it led to (or could lead to) poor results from faulty execution or naive application. In your modelling and write up, please cover the following: a) Describe the fundamental drivers behind the model. b) Outline a key application where this model is used for hedging and an example of how it could be used for speculation. c) Use some simple quantitative example to highlight the points in b). d) Describe a situation from practice when the model was (or could be) an outstanding success and another situation where it led to (or could lead to) poor results from faulty execution or naive application