MGT 2251 Chapter 13: Simulation Modeling

flow diagram (flowchart)

a graphical means of presenting the logic of a simulation model. It is a tool that helps in writing a simulation computer program

random number

a number whose digits are selected completely at random

simulation

a quantitative analysis technique that involves building a mathematical model that represents a real-world situation. The model is then experimented with to estimate the effects of various actions and decisions

random number interval

a range of random numbers assigned to represent a possible simulation outcome

prewritten simulation programs

graphical programs that are prestructured to handle a variety of situations

simulation software tools

programming languages especially designed to be efficient in handling simulation problems

systems simulation

simulation models that deal with the dynamics of large organizational or governmental systems

Monte Carlo simulation

simulations that experiment with probabilistic elements of a system by generating random numbers to create values for those elements

validation

the process of comparing a model to the real system that it represents to make sure that it is accurate

verification

the process of determining that the computer model is internally consistent and follows the logic of the conceptual model

operational gaming

the use of simulation in competitive situations such as military games and business or management games