Simulation A Statistical Perspective

This text is meant for those readers who wish to acquire a basic knowledge of simulation. It gives a survey of problems that can be analyzed by means of simulation, especially problems in economics, business administration, management science, operations research, and mathematical statistics. It also shows how to analyse simulation results. This analysis makes it possible to obtain more general conclusions, when using simulation. Moreover, the efficient design of simulation experiments is discussed. For all these topics there is specialized literature, but this literature is often too difficult for the novice. After reading this book, however, the specialized literature becomes accesible. Thus this book prepares the readers for the application of the simulation technique in practice. Therefore the problems and pitfalls of practical applications are outlined. Understanding the examples discussed in this book, requires a basic knowledge of business administration and operations research. Understanding the techniques presented in this book, requires knowledge of elementary computer science, mathematics and statistics.