Modeling and Simulation: Part 1

Hector Guerrero ()
Additional contact information
Hector Guerrero: College of William & Mary

Chapter Chapter 7 in Excel Data Analysis, 2010, pp 217-256 from Springer

Abstract: Abstract The previous six chapters have provided us with a general idea of what a model is and how it can be used. Yet, if we are to develop good model building and analysis skills, we still need a more formal description, one that permits us a precise method of discussing models. Particularly, we need to understand a model’s structure, its capabilities, and its underlying assumptions. So let us carefully re-consider the question—what is a model? This might appear to be a simple question, but as is often the case, simple questions can often lead to complex answers. Additionally, we need to walk a fine line between an answer that is simple, and one that does not over-simplify our understanding. Albert Einstein was known to say—“Things should be made as simple as possible, but not any simpler.” We will heed his advice.

Keywords: Deterministic Model; Uncertain Event; Influence Diagram; Bond Fund; Spreadsheet Model (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-10835-8_7

Ordering information: This item can be ordered from
http://www.springer.com/9783642108358

DOI: 10.1007/978-3-642-10835-8_7

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().