5. Probability Models
Sign In
Compare the different definitions of simulation.
See solution.
Now let's recall the definition of a simulation that is used in probability modeling.
|
Simulation |
|
An example of a probability model that can be used to make predictions about real-life situations. |
In both situations, a simulation is something that tries to pretend — or simulate — completing a particular scenario. However, in mathematics, a simulation allows us to also evaluate the probabilities of outcomes when chance is involved. This means that the aim of performing a simulation in mathematics is not only to imitate but also to make conclusions.