What are simulations?

Simulation is a way to model random events, such that simulated outcomes closely match real-world outcomes. By observing simulated outcomes, researchers gain insight on the real world.

Step-by-step explanation:

5 Steps to Simulation

Step 1: Decide on the purpose of the simulation and what performance metrics you want to monitor. Very rarely will you need to simulate your entire business ...

Step 2: Build a first Pass Simulation.

Step 3: Calibrate Your Simulation.

Step 4: Analyze the Results and Select the Best Alternative.

Step 5: Share Your Simulations.

sim·u·la·tion

/ˌsimyəˈlāSH (ə) n/

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noun

plural noun: simulations

imitation of a situation or process.

"simulation of blood flowing through arteries and veins"

the action of pretending; deception.

"clever simulation that's good enough to trick you"

the production of a computer model of something, especially for the purpose of study.

"the method was tested by computer simulation"