Simulation and Modeling20795 marksConfidence Intervals and Hypothesis Testing
Why Confidence interval is needed in the analysis of simulation output. How can we establish a confidence interval?
Why Confidence interval is needed in the analysis of simulation output. How can we establish a confidence interval? [5]
In the analysis of simulation output, a confidence interval is needed because: 1. Random Variability in Output: Output data from a simulation shows random variability when random number generators are used. Two different random number streams will produce two sets of output which probably will di...