Output Data Analysis for a Single System - Statistical Analysis for terminating simulations
9 important questions on Output Data Analysis for a Single System - Statistical Analysis for terminating simulations
What is the disadvantage of the fixed-sample-size procedure based on n replications?
What assumption is needed for the sequential procedure for obtaining an estimate of mu with a specified relative error that takes only as many replications as are actually needed?
When should you use the fixed-sample-size procedure?
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On what do measures of performance for a terminating siulation depend?
What are the two ways in measuring error?
2. Relative error: |Xbar-mu|\|mu| = gamma.
What is the interpretation of a CI?
On what does the correctnes of the CI depends?
- n being sufficiently large.
On what does a good or bad approximation of the CI depends?
What are other important measures of performance besides means?
- Quantiles.
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