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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 ?
The biogeochemical module is based on ecological mechanisms and can be used to simulate carbon and nitrogen in vegetation, litter, and soil organic matter and simultaneously produces a water and energy balance forecast between vegetation, snow, and soil.
He reports using such "fuzzy" automata to simulate snowflake growth around hexagonal seed crystals.
When Cortez returns to her title phrase for the riff chorus, she simulates the rhythm of blues music by varying the pitch of her voice antiphonally, and she experiments with vowel sounds, elongating the /o/ sound in the repeated phrase let it blow to simulate the sounds of horn players.
Pitcher delivers to the catcher, who rolls the ball out in front of the plate to simulate a squeeze play.
Boeing also developed Easy5 (now owned by MSC software; Bellevue, WA), a set of engineering analysis software tools used to model, simulate, and analyze dynamic systems containing hydraulic, pneumatic, mechanical, thermal, electrical, and digital subsystems.
The Navy ships fire their guns at the towed target which simulates a cruise missile.
This simulates what happens inside production sand hoppers and blow magazines.
The new Performance Adviser module simulates the packing phase and helps users to minimize undesirable part shrinkage.
A low pressure chamber simulates varying altitude and oxygen levels to teach students how different conditions affect their brain functions.
With a plastic projectile moving at 6 km per second, he adds, the experiment simulates an iron meteorite impact of about 20 km per second, which is close to the speed calculated for some incoming meteorites.
New software from Paulson Training Programs Inc., Chester, Conn., simulates the injection molding process using your choice of machine model, mold type, and material grade.

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