CAIIB ABM Unit 19 - Simulation

CAIIB ABM Unit 19 - Simulation (Year: 2019)

  • Simulation is a way of studying effects of changes in the real system through models.  We manipulate a model of the system so that we came to know the end results, without having to go through the problems in reality.
  • Queuing problems have been extensively studied through simulation.
  • Simulation is useful in training managers and workers in how the real system operates, in demonstrating the effects of changes in system variables and real time control.