I'm struggling to understand what the difference is between a computational and a numerical algorithm.
On Wikipedia, Monte Carlo methods fall under the rubric of computational algorithms; however the Newton-Raphson method is described as a numerical algorithm.
Both algorithms can be (i) run on a computer, (ii) involve calculations, (iii) and are iterative. The only broad distinction is that MC requires the simulation of random numbers (which we often designate to computers).
Can someone demystify this distinction in definitions?
N.B. I'm not sure what the correct tags for this question should be – I typed in "nomenclature" but it wasnt listed. Editors feel free to edit the tags.
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Best Answer
I wouldn't say there's a difference. Neither "numerical algorithm" nor "computational algorithm" is a very well-defined term anyway.