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The use of a mathematical model with different values as variables in order to determine the likelihood of a particular outcome. A simulation is run many times (often thousands) in order to find the most likely outcome. Running simulations is important for analysts who, for example, wish to predict a security's future price movements.
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To create an artificial environment or circumstance that closely resembles reality so that people may test their predictions about behavior or practice their skills. One may purchase simulation software to help new real estate agents learn how to interact with buyers and sellers or house-flipping simulation software to learn the tricks and perils of that process.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Our approach relies on two first class UML model elements to describe simulations:
In the past ten years, research regarding simulation has inundated nursing literature.
Now the companies offering the most popular simulation programs, such as Autodesk, Solidworks, Siemens, PTC and others, have started developing 'Lite' simulation tools with variations of finite element analysis, computational fluid dynamics and fluid flow analysis.
Critique: Impressively well thought-out, written, organized and presented, "World Politics Simulations in a Global Information Age" is especially recommended for academic library political science, international relations, media, history, and area studies reference collections and supplemental studies list.
Recommendations for future simulations for fourth year nursing students include: increasing the fidelity of the manikins; adding standardized patients; and creating a mixed-modality, multipatient simulation to provide a more realistic and challenging experience for students.
International Symposium on Distributed Simulation and Real Time Applications (18th: 2014: Toulouse, France)
What's Wrong with Social Simulations? ECKHART ARNOLD
The significance of this monograph is the emphasis on the learners' cognitive functions and their link to the computer-based application while learning with simulation. This perspective is rare within the well-established research on simulation in educational contexts and adds an important conceptual view to mental model theory.
SIMULATION IS NOT NEW to healthcare education and it has been used as a teaching tool internationally in nursing for a number of years (Laschinger, Medves, Pulling, McGraw, Waytuck, Harrison, & Gambeta, 2008; Nehring & Lashley, 2009; Seropian, Brown, Samuelson Gavilanes, & Driggers, 2004b).
Solutions oriented on easy operation of simulation software for people with minimum knowledge are presented.

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