Simulation and Statistical Inference :
}Due to the central limit theorem. The sampling distribution of x-bar tends toward Normality even when the population distribution is not Normal.
}This effect is especially strong with large samples.
}This tendency is known as the law of large numbers, which states that the sample mean approaches the population mean as the sample size increases
Why (or when) do we use simulation?
}Clearly, this is itself not a trivial task
}Simulations are often large, complex and difficult to develop
}Just developing the correct system model can be a daunting task
}There are many variables that must be taken into account
}However, if a new plant costs hundreds of millions or even billions of dollars, spending on the order of thousands (or even hundreds of thousands) of dollars on a simulation could be a bargain
}Note that with the Shuttle example, most of the work for this must be done in advance
}Don't have time to design & implement this during the duration of a flight
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