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BANA7030_Simulation_Basics

The document outlines the basics of simulation modeling, detailing the steps from determining goals to utilizing the model. It introduces key terminology such as system, state variables, events, calibration, accuracy, sensitivity, and validation. Additionally, it classifies simulation models based on time, randomness, and change.

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Baldev Singh
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7 views10 pages

BANA7030_Simulation_Basics

The document outlines the basics of simulation modeling, detailing the steps from determining goals to utilizing the model. It introduces key terminology such as system, state variables, events, calibration, accuracy, sensitivity, and validation. Additionally, it classifies simulation models based on time, randomness, and change.

Uploaded by

Baldev Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Simulation Basics

BANA7030
Denise L. White, PhD MBA
Modeling Approach
Determine
goals &
ORGANIZATION LEADERS
objectives

Build
conceptual
ANALYTIC
Design PROFESSIONALS
model

Convert to
computationa Data Analysis
l model

Verify &
validate Mathematical Implementation
model

Utilize the
model PARTNERSHIP
Simulation Terminology
• System
– The set of elements that interact
with each other
– Complexity in determining the
boundaries needed for the model
– Determination of the granularity
of needed to solve problems
Simulation Terminology
• State Variables
– The set of variables that are captured at each
instance in time.
– The number of people waiting in queue at an
ATM at a given time would be a state variable.
Simulation Terminology
• Event
– Any instantaneous event
that causes the value of
at least one of the status
variables to change
– A person completing an
ATM transaction and
freeing up the ATM for
another customer would
be an event.
Simulation Terminology
• Calibration
– The process by which the
parameters of the model are
adjusted in order to adapt the
results to the data observed in the
best possible way.
Simulation Terminology
• Accuracy
– The degree of
correspondence of the
simulation result that can be
inferred from a series of
calculated values with the
average model values with
the actual data.
Simulation Terminology
• Sensitivity
– The degree to which a
model’s outputs are
affected by changes of a
selected input parameter
– For example, how much
will the wait change if we
remove 1 cashier at a
grocery store?
Simulation Terminology
• Validation
– The process that verifies the accuracy of the
proposed model.
Classifying Simulation Models

Time Randomness Change


• Static • Deterministic • Continuous
• Dynamic • Stochastic • Discrete

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