simulation

(redirected from simulation model)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

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 ?
The objective of this section is to assure that the generic simulation model would run to completion in other scenarios without numerical errors.
We adjust simulation model to 15 cars, which will realize the transport of goods into the warehouse.
In the optimization of the first simulation model, the proposed method reached a better solution than that of all the commercial software profiles and also showed to be more efficient in terms of time than other profiles.
Validation of G-Pipe simulation model for 12 m length of gated pipeline (16 gates with 0.7 m spacing) under zero level of the pipeline:
The crop simulation models are essential tool in field research and agriculture productivity in developed and developing country.
This section describes the simulation model built to analyze the problem described in the above section.
The wheel suspensions are defined in a graphical user interface and exported as lookup tables for vehicle simulation models. The tool provides preset configurations for common suspension types: McPherson, double wishbone, and three-link, four-link, or multiple-link suspensions.
CSSD staffers are the only type of resources involved in the simulation model.
In the initial simulation model, the space-by-space method provided in ASHRAE 90.1-2004 for retail related spaces (ASHRAE 2004a) was used to determine the lighting power levels.
Figure 3 illustrates the onset of events in the simulation model on the time axis (t), including--"the last moment" (Tlast moment--a time interval during which the hotel offers room upgrade).

Full browser ?