Simulation

What is Simulation

Simulation basically is an extension of sensitivity analyses. in sensitivity analyses we focus one variable at a time where in case of simulation we can look into more than one variable. The simulation technique is more complex than sensitivity analyses.

1. More than one variable

in simulation technique two are more variable are taken into account to determine there impact.

2. Critical Variable Identification:- 

This method identify the critical variables for decision making.

3. Relationship Study:- 

This technique help to understand the relationship between different variables to achieve desired outcome.

4. Independent Selection of variable :- 

The variable selected randomly , so an independent analyses can be performed.