Because of the costs of adjusting total hours, including the costs of hiring and training new workers and of paying shift and overtime premiums, most firms (covering an estimated two-thirds of private-sector employment) are modeled
as adjusting labor input to its equilibrium level at a rate estimated to be about 15 percent per quarter, thus smoothing labor input over the business cycle.
Once the disease states are defined, the different transmission pathways to be modeled
determine the details of the model structure.
It's very hard to model them in the way that a hurricane is modeled
, for example," she said.
With BIM the entire project is modeled
in 3D and in a single file.
Calculations, assumptions, data entry, insurer inputs, program security and myriad criteria that produce the modeled
loss costs are reviewed in minute detail by the professional team.