What are the limitations of simulation models?

What are the limitations of simulation models?

Simulation models are powerful tools, but they have limitations such as simplifications, assumptions, and computational constraints.

Can you explain how assumptions affect the accuracy of simulation models?

Sure! Assumptions can lead to inaccuracies if they don't reflect real-world conditions, potentially skewing results.

What are some common assumptions made in simulation modeling?

Common assumptions include linearity, independence of variables, and constant parameters, which may not hold true in reality.

How do computational constraints limit simulation models?

Computational constraints can limit the complexity and scale of models, affecting their ability to simulate real-world scenarios accurately.

Are there ways to mitigate these limitations?

Yes, techniques like sensitivity analysis, validation against real data, and using hybrid models can help mitigate these limitations.