Simulation models - operation research model, Operation Research

These models are used to develop a method to evaluate the merit of alternative courses or action by representing with a mathematical model of the problems where various variables are random. That is these provide a means for generating representative samples of the measures of performance variable. Such repetition of the process by using the simulation models provides an indication of the merit of alternative course of action with respect to the decision variables.

Posted Date: 3/21/2013 3:45:12 AM | Location : United States






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