× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
q
10
9
b
8
b
7
n
7
m
7
b
7
k
7
y
7
d
7
6
g
6
Home Q & A Board Other Fields Homework Help Business Management
New Topic  
johnwayne88 johnwayne88
wrote...
Posts: 647
Rep: 0 0
5 years ago
Explain what is meant by the statement: simulation is not limited to using the standard probability distributions.
 
  What will be an ideal response?
Read 43 times
1 Reply

Related Topics

Replies
wrote...
#1
5 years ago
Standard models include normal, binomial, beta, uniform, Poisson, exponential, and other probability distributions. Each has a specific set of assumptions and parameters. Real-world (empirical) systems can have any distribution imaginable. Simulation can mimic these real-world distributions by the use of random number intervals based on real-world behavior, and can therefore generate more realistic models than would occur if a standard model were used in place of a system-specific one.
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  263 People Browsing
 212 Signed Up Today
Start New Topic Take the Tour Study Tips Study ToolsNew Topics Trending Browse by Textbook
Live Chat
Related Images
  
 288
  
 211
  
 89
Your Opinion
What's your favorite coffee beverage?
Votes: 264
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?