mathematical simulation technique to generate random sample data based on some known distribution for numerical experiments. - Monte Carlo (Risk Analysis) Simulation
Important Characteristics of Monte Carlo Simulation:
Output must generate random samples
Input distribution must be known
Result must be known while performing an experiment
Generalized Flowchart of Monte Carlo Simulation:
Step 1. Sampling of Random variables
Step 2. Experimenting numerical problems
Step 3. Performing statistical analysis on output results
Focuses on the individual active components of a system. - Agent Based Simulation
Agent Based Simulation can be used:
interaction between entities are complex
space is vital
population is heterogeneous
Focuses on the process in a system at a medium level of abstraction. - DiscreteEvent Simulation
It is widely used in the manufacturing, logistics, and healthcare industries. - DiscreteEvent Simulation
Important characteristics of Discrete Event Simulation:
predetermined starting and ending points
includes a list of discrete events that occurred
list of discrete events which are pending
Q - number of customers in line
S - server status at time
A - Arrival
D - Departure
E- stopping event
Highly abstracted method of modeling and simulation. - System Dynamics Simulation
It ignores the fine details of a system such as the individuals properties of people - System Dynamics Simulation.
Commonly found in most systems - Queues
Mathematical study of the congestion and delays of waiting in line. - Queuing theory
This theory examines every component of waiting in line to be served. - Queuing theory
helps in designing balanced system that serves customers quickly efficiency. - Queuing theory
involves customers requesting - Queuing system
Queuing system can be referred to as a system of flow
Strengths of a good Queuing system:
Increase operation efficiency
improve systems productivity
reduce walkaway customers
can help in understanding trends within the system
increase customers lifetime value
Weaknesses of a Queuing system:
Waiting time due to long queues
Queue jumping and reneging
minimization of waiting crowds
usually constructed by scientists. - Queuing models
goal is to minimize the average number of waiting for customers. - Queuing models
pertains to anything that arrives at a facility. - Customers
provides a requested service. - Server
queuing model are concisely identified. - Kendall notation
A - interarrival time
B - service time
c - number of servers
N - system capacity
K - size of the calling population
N and K are usually dropped if it holds and infinite value