Page 203 - DCAP601_SIMULATION_AND_MODELING

Unit 11: Design and Evaluation of Simulation Experiments (I)

amount of time in the interval (0, t) that there are N customers in the system in the i simulation Notes
th
run. Since customers arrive according to a Poisson process with rate , it follows that E(X|Yi )
= Y . Hence an improved estimator would be  Y , where Y =  K Y  /K.
i i=1 i
In Table 11.5 and Table 11.6 we compare, for  = 0.5, µ =1, N = 3 and t = 1000, the estimators and
con?dence intervals for E(X) when we do not, resp. do, use conditioning. We conclude that

Table 11.5: Estimation of E(X) without using conditioning

Table 11.6: Estimation of E(X) using conditioning

in this example the use of conditioning reduces the standard deviation of the estimator and
hence also the length of the con?dence interval with a factor 1.3.



Caselet KMA to Hold Business Environment Simulation Exercise

erala Management Association is organising a stimulating and enriching Business
Environment Simulation Exercise exclusively for B School Students on Saturday
Kat Management House in Panampilly Nagar.
Budding mangers and entrepreneurs are required to research and prepare a sound business
plan.
The contestants should take the role of an entrepreneur who wants to venture into the
business to increase the investment culture in stocks and trading in Kerala.
Mr Jibu Paul, Chairman, KMA Students Forum said that a team could consist of maximum
5 members. The plan includes a role-play model presentation, giving proper designations
and roles to each team member.
Each team is expected to make a power point presentation for five minutes first and if
selected then for 20 minutes finally.
For more details contact the office of Kerala Management Association @ 0484 2317917 or
info@kma.org.in.
The winner will get ` 10,000 cash award and certificates; First Runner up will get ` 7,500
cash award and certificates; second runner up will get ` 5,000 cash award and certificates.
The competition is sponsored by ACUMEN.
The awards will be distributed at the KMA Annual Convention inaugural day by the
Chief Guest Dr Sam Pitroda on February 3 at Hotel Le Meridian.

LOVELY PROFESSIONAL UNIVERSITY 197