You're reading from Hands-On Simulation Modeling with Python Develop simulation models to get accurate results and enhance decision-making processes

Product type Paperback

Published in Jul 2020

Publisher Packt

ISBN-13 9781838985097

Length 346 pages

Edition 1st Edition

Languages

Python

Concepts

Machine Learning

Author (1):

Giuseppe Ciaburro

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Table of Contents (16) Chapters

Preface

1. Section 1: Getting Started with Numerical Simulation

2. Chapter 1: Introducing Simulation Models FREE CHAPTER

3. Chapter 2: Understanding Randomness and Random Numbers

4. Chapter 3: Probability and Data Generation Processes

5. Section 2: Simulation Modeling Algorithms and Techniques

6. Chapter 4: Exploring Monte Carlo Simulations

7. Chapter 5: Simulation-Based Markov Decision Processes

8. Chapter 6: Resampling Methods

9. Chapter 7: Using Simulation to Improve and Optimize Systems

10. Section 3: Real-World Applications

11. Chapter 8: Using Simulation Models for Financial Engineering

12. Chapter 9: Simulating Physical Phenomena Using Neural Networks

13. Chapter 10: Modeling and Simulation for Project Management

14. Chapter 11: What's Next?

15. Other Books You May Enjoy

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Summarizing simulation modeling concepts

Useful in cases where it is not possible to develop a mathematical model capable of effectively representing a phenomenon, simulation models imitate the operations performed over time by a real process. The simulation process involves generating an artificial history of the system to be analyzed; subsequently, the observation of this artificial history is used to trace information regarding the operating characteristics of the system itself and make decisions based on it.

The use of simulation models as a tool to aid decision-making processes has ancient roots and is widespread in various fields. Simulation models are used to study the behavior of a system over time, and are built based on a set of assumptions made on the behavior of the system that's expressed using mathematical-logical-symbolic relationships. These relationships are between the various entities that make up the system. The purpose of a model is to simulate changes...