ITIS Study Mid Term.docx

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Department
Information Technology Information Systems
Course
ITIS 1P97
Professor
Dipanjan Chatterjee
Semester
Fall

Description
Model ­A simplified representation or an abstraction of reality Types of Models 1. Physical 2. Analog 3. Mathematical Components of a mathematical model Parameters (uncontrollable factors)  Independent Variables  Mathematical   Dependent Variable (Controllable factors)        Relationship Benefits of Modeling  A Model lets us: • Compress Time  • • Manipulate the model more easily than the real system and reduce the cost  of experimentation and mistakes  • Consider Risk  • Help us learn about and understand systems  • Encourage rigorous thinking  • Analyze a large number of solutions  Drawbacks to Modeling ­Can be time­consuming and expensive  ­Managers must agree accept results ­Data collection can be expensive or impossible ­It may be difficult to assess uncertainties ­Oversimplification may produce poor results  ­Common perception that if it is done on a computer, it must be correct Uses of Models Prescriptive Models Find the best or optimal solution  ­ Enumeration ­ Algorithm Descriptive Models ­ Characterize things as they are ­ Investigate outcomes and consequences ­ Predict the behavior of systems in certain situations ­ Solutions are not necessarily optimal Modeling Process 1. Opportunity/Problem Recognition 2. Model Formulation 3. Data Collection 4. Analysis of the model  5. Implementation and Project Management Types of Data ­ Categorical (values that can sorted into groups, ex. Eye color, sex)  ­ Numerical (values that can be measured) ­ Discr
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