simulation

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Simulation

The use of a mathematical model to imitate a situation many times in order to estimate the likelihood of various possible outcomes. See: Monte Carlo simulation.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Simulation

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

simulation

A mathematical exercise in which a model of a system is established, then the model's variables are altered to determine the effects on other variables. For example, a financial analyst might construct a model for predicting a stock's market price and then manipulate various determinants of the price including earnings, interest rates, and the inflation rate to determine how each of these changes affects the market price.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

simulation

a technique for dealing with complex resource allocation problems which cannot be solved exactly by LINEAR PROGRAMMING or similar analytical methods. The technique involves creating a typical life history of a system to represent the actual problem and its rules of operation. Repeated runs of the simulation, slightly altering the operating rules each time, provides experimentation aimed at discovering methods of improving the performance of the system. Such simulation techniques are frequently employed in examining STOCKHOLDING and QUEUE problems. For example, in simulating a queue problem, such as cars queuing at a petrol-station forecourt, it is possible to note how well existing service facilities are coping with customers and the extent to which existing service capacity is utilized. It is also possible to investigate the effects of such changes as increasing the number of service channels or changing the arrangement of channels to discover ways of improving the performance of the garage.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
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Flight simulator hardware is designed to integrate with fixed or mobile platforms.
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Thanks to these new flight simulators and training systems to be designed and produced by HAVELSAN, we will be able to satisfy the needs in this regard by turning towards domestic resources instead of foreign resources.
The latest VR technology developed by FlyInside will provide a sense of immersion that never existed before in any other simulator with early access/open beta flight simulator.
AAG's new flight simulator will be ready for training by 2019 and comes with a full 'Upset Prevention and Recovery Training' or UPRT capability and with the A320 new engine and current engine options.
Often in these works an absolute amateur can, after brief instructions from the control tower, save a large passenger plane and land safely.In reality, however, any layperson, even with instructions from the tower, would not manage to safely land such a big plane, said Pavel Bayer, founder of the Simulator Centre.
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