April 2010 ‘The problems of Monte Carlo Simulation’ by David Nawrocki This article describes the problems associated with using the Monte Carlo Simulation Model as a tool for determining future investment outcomes for investors. The tool is widely used by Financial Advisors as a means of showing investors future returns on investments. The article discusses why the use of Monte Carlo Simulation in financial planning is difficult and can lead to incorrect decisions which can have a detrimental
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SPREADSHEET MODELING AND SIMULATION Spring 2014 Instructor: Yanjun Li‚ office: KRAN 422‚ phone: 494-4525‚ e-mail: li14@purdue.edu Office Hours: Tuesday 1:00 – 4:00 pm‚ or by appointment. Course Packet: The course packet contains cases and readings from various sources. Textbook: David Hartvigsen‚ SimQuick: Process Simulation with Excel‚ 2nd Edition‚ Prentice Hall‚ 2004. (ISBN: 0-13-107880-1) References: Law‚ A. M. and W. D. Kelton‚ Simulation Modeling and Analysis
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Innovation in Simulation & Artificial Intelligence Virtual Reality Reality has become Science Fiction because the reality most people agree upon to live in isn’t the entire picture of what’s going on. 2010 Institute of Business Administration Table of Contents Science of Intelligent Systems: 6 Results of Engineered Mind: 6 Limitations of Man: 7 Grand Challenges in Science and Technology 7 Modern Era Of Computer Technologies: 8 Innovation Starts from Computer Aided Design:
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www.ncetianz.webs.com System Modeling And Simulation Notes —————— Presented By Nc et ia nz www.ncetianz.webs.com CHAPTER – 1 INTRODUCTION TO SIMULATION Nc et ia -1- nz www.ncetianz.webs.com Simulation A Simulation is the imitation of the operation of a real-world process or system over time. Brief Explanation • The behavior of a system as it evolves over time is studied by developing a simulation model. • This model takes the form of a set of assumptions
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4.3.1.1 MEA Simulation Process Description The simulation process flow sheet is shown in figure (20) was simulated using a 30 wt. % MEA with lean solvent loading of 0.29 mol CO2/mol MEA to capture CO2 of 84.6 kg/hr. The following description of the MEA process that was run at Tarong pilot plant will be discussed based on the simulation process results were obtained from the Aspen plus V8.4. The flow rate of the flue gas of 599.9kg/hr at 103.7◦C generated from the coal-fired power station entered
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RFSim99 is a free linear S-parameter based circuit simulator offering schematic capture‚ simulation‚ 1 port and 2 port S-parameter display and file support‚ tolerance analysis‚ stability circles‚ and much more.It can cost large sums of money to get a workstation seat at some of the high end simulation and analysis software suites. But the underlying mathematics that these programs use is not secret‚ it is in the public domain and there are low cost or shareware packages that will do the same computations
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Bibliography: Alinier‚ G.‚ Hunt‚ B.‚ Gordon‚ R.‚ & Harwood‚ C. (2006). Effectiveness of intermediate-fidelity simulation training technology in undergraduate nursing education Bradley‚ P. (2006). The history of simulation in medical education and possible future directions Brosnan‚ M.‚ Evans‚ W.‚ Brosnan‚ E.‚ & Brown‚ G. (2006). Nurse Education Today‚ 26‚ 115-122. Brosnan‚ M.‚ Evans‚ W.‚ Brosnan‚ E.‚ Brown‚ G
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Stern‚ is a prime example‚ stating‚ "They [Disney] have theme parks and we have theme parks. Only we call them arenas. They have characters: Mickey Mouse‚ Goofy. Our characters are named Magic and Michael [Jordan]‚ etc" (Andrews‚ 2006‚ p. 15). However‚ ever since 1987‚ one professional sports league has adopted every aspect of Disneyization to appeal to the masses‚ known as the Arena Football League (AFL). Because of the heavy competition in promoting the AFL against other professional sports
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Advantages: >Computer simulation can allow you to see how a system might respond before you design or modify it. This avoids mistakes and one can try different ideas before the real product is produced‚ making it cheaper as there is no need to make different prototypes every time and testing them out. Example: It is safer and cheaper to use a model and simulation for some real world objects such as nuclear power plants. >It is an advantage to find this out in a model rather than testing the real
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Assignemnt 2 Problem 3-3 Model 3-1 was has been run for 8 hours (480 minutes) instead of 20 minutes. The plots on queue length and the number of times the drill press is busy or idle for the 8-hour run is given figure 1. Figure 1 (Simple Processing System with 8 hours of time) The primary performance related results are compared in table 1. Table 1: Performance Measures | 20 minutes run | 480 minutes run (8 hours) | Total Production | 5 | 89 | Avg. Wait Time | 2.52 | 3.33 | Avg
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