STAT 3201 Lecture 8: Stats 2.3.17
3 Feb 2017
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Document Summary
Simulation is a way to describe random events, such that simulated outcomes closely match real-world outcomes. In other words, it is the imitation of the operation of a real-world process or system. By observing simulated outcomes, one can gain insight into the true process. Some situations are not easy to describe in precise mathematical terms (time- consuming or expensive). Simulation can provide an approximation to the true process without much time or effort. The accuracy of the approximation depends on how similar the simulation is to the real-world process. Random sample: let n and n describe the number of elements in the population and sample, respectively. Random number table: computer generated set of random numbers such that the probability of each number is the same and there are no trends or patterns. Any starting point may be used in a random number table. This table can be used in simulation studies.
