Answer:
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.
