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A simulation is an imitative representation of a process or system that could exist in the real world. [1] [2] [3] In this broad sense, simulation can often be used interchangeably with model. [2] Sometimes a clear distinction between the two terms is made, in which simulations require the use of models; the model represents the key ...
t. e. Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management ...
In finance, the Monte Carlo method is used to simulate the various sources of uncertainty that affect the value of the instrument, portfolio or investment in question, and to then calculate a representative value given these possible values of the underlying inputs. [1] (". Covering all conceivable real world contingencies in proportion to ...
Artificial intelligence (AI), in its broadest sense, is intelligence exhibited by machines, particularly computer systems.It is a field of research in computer science that develops and studies methods and software that enable machines to perceive their environment and uses learning and intelligence to take actions that maximize their chances of achieving defined goals.
Business simulation or corporate simulation is simulation used for business training, education or analysis. It can be scenario -based or numeric -based. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, decision making, problem solving, financial analysis, market ...
Modeling and simulation ( M&S) is the use of models (e.g., physical, mathematical, behavioral, or logical representation of a system, entity, phenomenon, or process) as a basis for simulations to develop data utilized for managerial or technical decision making. [1] [2]
Financial modeling is the task of building an abstract representation (a model) of a real world financial situation. [1] This is a mathematical model designed to represent (a simplified version of) the performance of a financial asset or portfolio of a business, project, or any other investment. Typically, then, financial modeling is understood ...
Stress test (financial) In finance, a stress test is an analysis or simulation designed to determine the ability of a given financial instrument or financial institution to deal with an economic crisis. Instead of doing financial projection on a "best estimate" basis, a company or its regulators may do stress testing where they look at how ...