Chapter 12 – Computer Simulation: Basic Concepts
15. Computer simulation is a useful tool because it generates accurate information using very
small samples.
16. Random observations can be generated in Excel by using the VLOOKUP function.
17. Computer simulation is only applicable to situations that have elements that can be
described by random variables
18. Analytical methods are preferable to simulation if an appropriate analytic method is
available.
19. A simulation model includes a description of the components of the system that is to be
simulated.
20. A simulation clock keeps track of how long the simulation has run in real time.
21. The main procedure for advancing the time on the simulation clock is called next-event
time advance.
22. Simulation will often give measures of performance as outputs.