- simulation
- The use of a mathematical model ( modeling) to imitate a situation many times in order to estimate the likelihood of various possible outcomes. Bloomberg Financial DictionarySee: Monte Carlo simulation. Bloomberg Financial Dictionary
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simulation sim‧u‧la‧tion [ˌsɪmjˈleɪʆn] noun [countable, uncountable]an activity or situation that produces conditions which are not real, but have the appearance of being real, used especially for testing something:• A computer simulation allows project engineers to study in detail the manufacturing process operations at the factory site.
— simulate verb [transitive] :• The Project Management Game simulates a design and build project on a compressed time scale.
— simulator noun [countable] :• A new computer simulator has been designed to teach drivers how to handle a skid.
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simulation UK US /ˌsɪmjəˈleɪʃən/ noun► [C] a situation or event that seems real but is not real, used especially in order to help people deal with such situations or events: in a simulation »If we can make mistakes in a simulation that keep you from making mistakes in the real world, that definitely saves lives.
a simulation of sth »They are carrying out a detailed simulation of how their plan would work.
»a computer simulation
► [U] the use of situations or events that seem real but are not real, especially in order to help people deal with such situations or events: through simulation »The evaluation of the various design options was done through simulation.
Financial and business terms. 2012.