Simulation Mechanics
This course is not about programming—consequently the discussion of simulation stresses concepts rather than detailed mechanics.
The “Garage Case Template” provided in the Garage Case Module embeds the capability to do simulation and to generate the target curves mentioned in the videos and posted slide.
What you should retain is that simulation is a powerful way to explore the effects of alternative plans or design, enabling users to:
- deal with any shape of input distributions (not only mathematical functions);
- consider many different forms of flexibility (options) simultaneously (not just one at a time); and also
- consider when the criteria for choice can vary over time.
Moreover, the process is efficient – and relatively easy to explain (it does not invoke special theory).
