Simulation can be defined as the process of designing a model of a real system and conducting an experiment with these models of system and, or evaluating various strategies for the operation of the system. Thus, it is important that the model we design in such a way, model behavior mimics the behavior of a real system.
In this “System Simulation - Simulation and Modeling” you will learn about following topics:
- Introduction to Simulation
- When To Use Simulation?
- Advantages of Using Simulation
- Disadvantages of Using Simulation
- The Technique of Simulation – Monte Carlo Method
- Important Characteristics of the Monte Carlo Method
- Advantages of the Monte Carlo Method
- Disadvantages of the Monte Carlo Method
- Flow Diagram of the Monte Carlo Method
- Problem Depicting Monte Carlo Method
- Comparison of Simulation and Analytical Method
- Difference between Simulation and Analytic
- Experimental Nature of Simulation
- Types of System Simulation
- Distributed Lag Model
- Cobweb Model
- Assumptions of Cobweb theory
- Cobweb Theory and Price Divergence
- Cobweb Theory and Price Convergence
- Limitations of Cobweb theory
- Steps of Simulation Study
- Time Advancement Mechanism
- Queuing Models and its Characteristics
- Characteristics of the Queuing System
- Measuring the Performance Of The System
- Single Server Queuing System
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This article System Simulation - Simulation and Modeling is contributed by Pawan Tiwari, a student of LA GRANDEE International College (LGIC).
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