Number of occurrences
How many times it
The famous simulation model
Case Study: Hammondsport Savings
Bank ATM Waiting Line
Hammondsport Savings Bank will open several
Modeling & Simulation
Dr Sally Kassem
Mondays 11:30 12:45
Wednesdays 12:45 2:00
Simulation with Two ATMs
We extended the simulation model to
the case of two ATMs
For the second ATM we also
assume that the service time is normally
distributed with a me
Risk analysis is the process of predicting the
outcome of a decision in the face of uncertainty.
We describe a problem that involves
considerable uncertainty: the development of a
We first show how risk analysis can be
conducted without using
Monte Carlo Simulation
Sometimes defined as the simulation that
involves generating values for the probabilistic
inputs without considering the factor of time.
Why called M o n t e C a r l o simulation?
An inventory example using
Probabilistic input values
We mentioned that we need to generate
values for the three probabilistic inputs.
The first step to do that is through computer
generated random numbers.
Computer generated random numbers
These are numbers randomly selected