Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

Benefits of Simulation Discuss the many costs that businesses face today. Is it always practical to test new ideas via a 'real life' study - with participants, facilities, etc? If not, how can a...

1 answer below »

Benefits of Simulation

Discuss the many costs that businesses face today. Is it always practical to test new ideas via a 'real life' study - with participants, facilities, etc? If not, how can a simulation be utilized to test ideas while keeping costs manageable? If a simulation is used, what steps are needed in order to have a successful model?

Answered Same Day Mar 30, 2020

Solution

Viswanathan answered on Mar 31 2020
138 Votes
Simulation
Simulation modeling is the process of developing and checking the prototype models digitally that represents the ideal working of physical model of a system and the prototype will be tested to predict the future performance of the system or process in the real world. This model will eventually help the researchers or the technicians to understand the pitfalls in the production process thus will eventually help them to deliver a defect free product to their customers or end users.
The concept of simulation started slowly and gained its importance in the market and now days, many engineering based companies uses the simulation technique to test, develop and...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here