Any simulation model that does not contain any random or probabilistic element is called
a deterministic simulation model. The characteristic of this type of simulation model is
that the output is determined when the set of input elements and properties in the model
have been specified. For example, a deterministic simulation model can represent a
complicated system of differential equations.
Many simulation models however, have at least one element that is random, which gives
rise to the stochastic simulation model. In most simulation models randomness is
important to mimic the real scenario, for example user connections to the internet arise
'randomly' when a person pressing a key. However, for any stochastic simulation model
that has random output, the output (numerical results) can only be treated as an estimate
of the true output parameters of the model
Mathematical model is exact in nature.it has Beta zero and Beta one and no stochastic or disturbance variables. Econometric model represents omitted variable, error in measurement and stochastic variables.
What is the difference between statistics and parameter
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monte carlo simulation is used to give solutions of deterministic problems whereas stochastic simulation is used for stochastic problems.
monte carlo simulation is used to give solutions of deterministic problems whereas stochastic simulation is used for stochastic problems. basically Monte carlo simulation was named after world war -2 by j. von newmann to solve real world problems From - kapil M.tech Student
Wikipedia states that stochastic means random. But there are differences depending on the context. Stochastic is used as an adjective, as in stochastic process, stochastic model, or stochastic simulation, with the meaning that phenomena as analyzed has an element of uncertainty or chance (random element). If a system is not stochastic, it is deterministic. I may consider a phenomena is a random process and analyze it using a stochastic simulation model. When we generate numbers using a probability distribution, these are called random numbers, or pseudo random numbers. They can also be called random deviates. See related links.
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These words are used to describe ways of modeling or understanding the world. "Stochastic" means that some elements of the model or description are thought of as being random. (The word "Stochastic" is derived from an ancient Greek word for random.) A model or description that has no random factors, but conceivably could, is called "deterministic." For example, the equation Q = VC where Q = charge, V = voltage, and C = capacitance, is a deterministic physical model. One stochastic version of it would be Q = VC + e where e is a random variable introduced to account for or characterize the deviations between the actual charges and the values predicted by the deterministic model.
There is no difference.
simulator is an algorithm used to simulate the process of a system...
Deterministic and non-deterministic loops A deterministic loop is predictable. The number of iterations of such a loop are known in advance, even before the loop has started. Most counting loops are deterministic. Before they start, we can say how many times they will execute. A non-deterministic loop is not easily predicted. A loop that is driven by the response of a user is not deterministic, because we cannot predict the response of the user. Non-deterministic loops usually are controlled by a boolean and the number of iterations is not known in advance.
Operation research is tool/technique for solving the problems such as economics, queuing theory, mathematical optimization, simulation and stochastic models etc. Operation management is concerns management of production (transformation) system, system design, operation, improvement, systematic analysis of organizational process.
A deterministic finite automaton will have a single possible output for a given input. The answer is deterministic because you can always tell what the output will be. A nondeterministic finite automaton will have at least one input which will cause a "choice" to be made during a state transition. Unlike a DFA, one input can cause multiple outputs for a given NFA.
Mathematical model is exact in nature.it has Beta zero and Beta one and no stochastic or disturbance variables. Econometric model represents omitted variable, error in measurement and stochastic variables.
No I don't know... Plz give me the right answer