Premium Essay

Simulation Analysis

In: Other Topics

Submitted By ant920
Words 995
Pages 4
Simulation Analysis
The simulation takes us through the supply and demand of two bedroom rental apartments in a nice, clean and amazing town of Atlantis. The simulation teaches us about the demand curve, supply curve and equilibrium. The simulation showed the impact of a cost Maximum on the quantity demanded and quantity supplied of two bedroom rental apartments. It also showed the effect of a price ceiling on the quantity demanded and quantity supplied. When the price ceiling is a low equilibrium, it causes shortages because of the price. The way that the price shifts drastically affects the overall amount of units they both rent and remain on the books. If you raise the price of the units, the demand will go down since there are other apartments out there that people can go find. It is important to find that fine line of where to lay the price line. If you were to have a lot of units available, you can lower the overall price to make it seem more appetizing to possible renters. By doing this you will lower you vacancy rate and increase your overall income from these units. As their lease expires in a year or two, you can slowly raise the price of the unit so you can make up your original costs. Many apartment complexes do this and at times seems like the price will never remain the same. In my opinion, this is why it is always better to buy a condominium or a single family home. Renting a place can feel like you are just throwing your hard-earned money right in the toilet. There is one major differences between microeconomics and macroeconomics. The easiest way to remember the difference is that microeconomics is more at a personnel level like pricing of certain goods you require for your household. In other words, this will affect your everyday purchasing decisions. For Macroeconomics, this is closely related to the Federal Government level....

Similar Documents

Premium Essay

Simulation Analysis

...Simulation Analysis Danielle B. Western Governors University Simulation Analysis Introduction In the following information below I will discuss many elements of decisions that were made while completing the Business Fundamentals Marketplace Simulation by Innovative Learning Solutions. These elements include, product design decisions, target markets, sales office locations, marketing research, international markets, and considerations for a heavy international commitment. Product Design Decisions Product design decisions are a very important piece of any company’s success. In the Web Marketplace Business Simulator I had three personal computer markets (PC) to choose from; Workhorse, Mercedes, and Traveler. The Workhorse segment wanted an easy to use computer for use by office workers. The Mercedes segment was looking for a high performance computer to use with engineering and manufacturing applications. The Traveler segment wanted a proactive computer to use on the road. In order to determine my product design decisions I first had to decide on which PC markets I was going to target. The PC markets that I chose to market my computers to were the “Traveler” and the “Workhorse” markets. The reason I decided to choose the Traveler and Workhorse markets was because I was hoping that if I initially sold to one market that I may also be able to sell to the other market eventually....

Words: 1451 - Pages: 6

Premium Essay

Links Simulation Analysis

...Tom Baker 4 November 2012 TABLE OF CONTENTS Page (s) Introduction…………………………………………………………………………………….1 Product I……………………………………………………………………………………....2 – 5 Performance…………………………………………………………………………….2 Analysis…………………………………………………………………………….....2 – 4 Summary………………………………………………………………………………..4 Conclusions/Future Activities………………………………………………...……….4 – 5 Product II……………………………………………………………………………………...5 – 8 Performance……………….…………………………………………………………….5 Analysis……………………………………………………………………………......6 – 7 Summary…………………………………………………………………………………7 Conclusions/Future Activities……………………………………………………………8 Appendices…..……………………………………………………………………………….9 – 13 Graphs ………………………………………………………………………………..9 – 12 Graph 1…………………………………………………………………………..9 Graph 2…………………………………………………………………………..9 Graph 3………………………………………………………………………….10 Graph 4………………………………………………………………………….10 Graph 5………………………………………………………………………….11 Graph 6………………………………………………………………………….11 Graph 7………………………………………………………………………….12 Graph 8………………………………………………………………………….12 Tables………………………………………………………………………………….13 Table 1………………………………………………………………………...13 Table 2………………………………………………………………………...13 INTRODUCTION For the Links simulation, we compete as Firm 4 in Industry 1. Based on the Links scorecard, we reside in second place after seven quarters, trailing first place by a mere 1.5 points. Currently, both brands are active in various channels and regions....

Words: 2600 - Pages: 11

Premium Essay

Littlefield Simulation Analysis

...Littlefield Initial Strategy When the simulation first started we made a couple of adjustments and monitored the performance of the factory for the first few days. Initially we set the lot size to 3x20, attempting to take advantage of what we had learned from the goal about reducing the lead-time and WIP. We also changed the priority of station 2 from FIFO to step 4. After viewing the queues and the capacity utilization at each station and finding all measures to be relatively low, we decided that we could easily move to contract 3 immediately. Except for one night early on in the simulation where we reduced it to contract 2 because we wouldn’t be able to monitor the factory for demand spikes, we operated on contract 3 almost the entire time. This proved to be the most beneficial contract as long as we made sure that we had the machines necessary to accommodate the increasing demand through day 150. Machine Purchases The first time our revenues dropped at all, we found that the capacity utilization at station 2 was much higher than at any of the other stations. So we purchased a machine at station 2 first. Station 2 never required another machine throughout the simulation. After all of our other purchases, utilization capacity and queuing at station 2 were still very manageable. As demand began to rise we saw that capacity utilization was now highest at station 1. We nearly bought a machine there, but this would have been a mistake....

Words: 1327 - Pages: 6

Premium Essay

Links Simulation Final Analysis

...Marketing Simulation- Final Analysis MBAS 831 - Marketing Fundamentals Professor Peter Dacin Friday June 5th, 2015 MBA Team 346 Team Member | Student ID-id | Altaaz Dhanani | 10176433 | Anika Sharma | 10168757 | Brennan Jones | 10165416 | Conrad Lee | 10088793 | Penny Peng | 10185530 | Rogel Wang | 10177236 | Table of Contents Final Achievements 5 Analysis 5 Month 4: Business As Usual 5 Month 5 & 6: Market Leader 5 Month 7 & 8: The Balance 6 Learnings 6 What Works 6 What Could Be Improved 7 Why Invest in Firm 5? 7 Appendix A: Performance & Results 9 Appendix B: Monthly Performance Comparison 11 Appendix C: Month 4 Price Sensitivity Analysis 11 Appendix D: Snapshots of Month 5 Competitive Analysis 12 Appendix E: Marketing Budget and Allocation Mix 12 Appendix F: Industry and Firm Sales 13 Appendix G: Monthly and Cumulative Financials 14 Appendix H: Firm and Industry Stocks Prices 14 Appendix I: Industry Cumulative Earnings and Dividends 15 Appendix J: Simulation Decision Memo 1 15 Appendix K: Simulation Decision Memo 2 17 Appendix L: Simulation Decision Memo 3 20 Appendix M: Simulation Decision Memo 4 23 Final Achievements Team 346, represented as Firm 5, achieved very impressive results for the simulation as of Month 8. Many of our results were either industry best or very close to being so. Net Income to Revenue was 7.89% which was the industry best....

Words: 5386 - Pages: 22

Premium Essay

Applying Analysis of Variance (Anova) and Nonparametric Tests Simulation

...Applying Analysis of Variance (ANOVA) and Nonparametric Tests Simulation RES 342 William Modey   Applying Analysis of Variance (ANOVA) and Nonparametric Tests Simulation ANOVA and Non Parametric tests can help in business endeavors wherever there is two or more variables or hypothesis. The ANOVA and Non Parametric Tests Simulation showed the various ways to do hypothesis testing with two or more hypothesis. Being able to do the various types of testing that come along with ANOVA and Non Parametric data sets is key to making the right decision when having two or more choices. The three lessons that I have learned after doing the ANOVA and Non Parametric Tests Simulation were to thoroughly analyze the presented problem before attempting to make a decision, enlist the help of others when making a decision or choosing a course of action, and to continually improve on decision making skills based on learning from past mistakes made. As a result of using this simulation the concepts and analytic tools that I would be able to use in my workplace are that I am now able to approach a decision making scenario with appropriate knowledge and testing procedures to help make the best decision. The skills that I learned in the simulation, such as the different hypothesis testing procedures, could be key to helping me improve my managerial skills....

Words: 396 - Pages: 2

Free Essay

Analysis of Statistical Models for the Simulation of Rayleigh Faded Cellular Channels

...The organization of the team is shown as below (Table 1): |Stage 1 |Literature Review; | | |Model Selection | |Stage 2 |Hardware Prepare |Mathematic Description for Models | |Stage 3 |Hardware Implementation |Model Simulation& Analysis | |Stage 4 |Project Report | Table 1 Team Organization 1.2.4 Brief...

Words: 1130 - Pages: 5

Free Essay

Air-Conditioning Systems Simulation and Energy Saving and Economic Analysis for Waiting Hall of Tianjin Railway Station

...Thesis Proposal Air-conditioning Systems Simulation and Energy Saving and Economic Analysis for Waiting Hall of Tianjin Railway Station Introduction Energy saving of buildings is ever-increasingly emphasized by modern society. With the emergence of innovative technologies, new materials, and sophisticated architectural design, designers are hard to know the energy consumption of a building. It will reduce the real meaning of building's energy consumption test if we conduct this test on a building already built. Therefore, it is recommended to simulate a building's energy consumption within project design stages. Owing to the complexity of the air conditioning process and the mechanism of thermal components, the work of analysis and computation is time-consuming. Meanwhile, simulation software advantages over the traditional way in the application of design compare and equipment selection. In a nutshell, building energy simulation softwares play a vital role in the analysis of building energy consumption. Tianjin Railway Station is the main railway transport hub of Tianjin city. With the help of software to simulate its air conditioning system and conduct energy analysis, we can obtain some salutary design advices, which are beneficial to the energy saving of Tianjin Railway Station....

Words: 879 - Pages: 4

Free Essay

Using a Combined Method of Hierarchical Analysis and Monte Carlo Simulation in Order to Identify and Prioritize the Target Market Selection Criteria

...Keywords: target market selecting, hiererchical analysis process, MC-AHP, food...

Words: 3589 - Pages: 15

Free Essay

Hnee 115 Ecad

...Simulate the circuit in any of the packages you have identified in the first assignment, and then assess the performance of the software package by carrying out mathematical analysis of the circuit. 2 Op Amp Summing Amplifier 2 Op Amp Summing Amplifier Simulation 1 2 Op Amp Summing Amplifier Simulation 2 3 Results Simulation 1 & 2 5 2) Describe the following terms used in ECAD systems: 6 (a) Prototype 6 (b) Boundary scan 6 (c) Self-testing 7 (d) Controllability and observability 7 (e) Testability 7 (f) Simulation modelling 7 (g) Fault simulation 8 (h) Temperature simulation 8 3) VLSI 9 Conclusion 10 References 10 Online sources 10 Books 11 Assignment: 2 You are working for an electronic design services company. The company designs and engineers printed circuit boards. It specializes in interconnection design, and provides electronic design automation solutions. As part of your training programme, your line manager has asked you to carry out the following task and to submit your findings in a report (around 6 pages). Introduction There is a huge prevalence in electronics in everyday products, there for R&D is a very important factor. Electronic Computer-Aided Design (ECAD) software are used to optimise existing products or to develop new concepts, giving the opportunity to realise virtual simulation that otherwise will be complicated to realise and will required a lot more time....

Words: 2165 - Pages: 9

Free Essay

Stats and Modelling Notes

...Modeling and simulation of system design trade off is good preparation for design and engineering decisions in real world jobs. In this Web site we study computer systems modeling and simulation. We need a proper knowledge of both the techniques of simulation modeling and the simulated systems themselves. The scenario described above is but one situation where computer simulation can be effectively used. In addition to its use as a tool to better understand and optimize performance and/or reliability of systems, simulation is also extensively used to verify the correctness of designs. Most if not all digital integrated circuits manufactured today are first extensively simulated before they are manufactured to identify and correct design errors. Simulation early in the design cycle is important because the cost to repair mistakes increases dramatically the later in the product life cycle that the error is detected. Another important application of simulation is in developing "virtual environments" , e.g., for training. Analogous to the holodeck in the popular science-fiction television program Star Trek, simulations generate dynamic environments with which users can interact "as if they were really there." Such simulations are used extensively today to train military personnel for battlefield situations, at a fraction of the cost of running exercises involving real tanks, aircraft, etc....

Words: 24251 - Pages: 98

Premium Essay

Monte Carlo Simulation

...In cost management, the project manger can use this simulation to better understand project budget and estimate final budget at completion. The primary advantage of using Monte Carlo simulation in projects is that it is extremely powerful tool when trying to understand and quantify the potential effects of uncertainty of the project. Monte Carlo simulation aids the project manger in quantifying and justifying...

Words: 976 - Pages: 4

Premium Essay

Mgmt Everest

...8MGMT1001 MGMT1001 08 Fall 08 Fall Nicholas Woolbank Nicholas Woolbank Introduction Following the designated ‘Management 1001’ course requirements, and the assignment of members to groups, each group undertook the Everest Simulation – a teamwork and leadership challenge requiring groups to ascent a virtual Mount Everest. Drawing upon a range of fundamental organisational and managerial concepts and coupled with frequent challenges, the simulation effectively replicated a dynamic and teamwork based organisational environment. The simulation seeks to test interpersonal relationships and group dynamics by creating dissonance on both an individual and group level, as groups and group members strive to achieve both individual and group goals. This report will critically analyse the very processes used to undertake the Everest Simulation, along with results, focusing on the three concepts of ‘Communication’, ‘Groups and Teams’ and ‘Leadership’. These are of critical importance to forming an analysis of not only the simulation itself, but also a broader organisational and managerial situation and the correlation between managerial theory and practice and the Everest Simulation. The transition in dynamics within the group between the different simulations, and the solving of numerous challenges corresponds to the improvement in our results of the simulation....

Words: 2073 - Pages: 9

Free Essay

Case1

...Computer Simulation: The process of computer simulation is mainly used for the purpose of generating an abstract model of a specific system. The way how system behaves can be shown by this along with few other activities involving constructing, designing and defining a model of a system. Simulation can be defined as mimicking or imitating through experimentation with a model of some real system Importance of Simulation: To lead a day-to-day life, many industries such as Healthcare, Military, Retail, Logistics etc. also makes use of these simulation models for their routine work to be done in an effective way. When these industries face problems they can be solved by acquiring the knowledge of simulation software which can be obtained by the use of analysis and modeling Simulation & Modeling can be used in various areas such as: In call centers- Simulation used in call centers is mainly to assure customer satisfaction. Simulation helps in predicting various calls and analyzing the agents to work on each type of call. Agents are trained in such a way that the waiting time for the incoming call should not be increased and one should respond to it immediately to answer customers queries managing their own time. This way customer satisfaction can be obtained handling numerous calls per day. Therefore simulation helps in call centers to plan and manage the workforce accordingly....

Words: 332 - Pages: 2

Premium Essay

Caledonia: Financial Analysis

...Caledonia: Financial Analysis Catrina Sweers BUS401: Principles of Finance Ramzi Salloum April 30, 2012 Caledonia: Financial Analysis Taking on a new project or having an expansion done on an already existing facility takes time. There are several factors that need to come into play, centering mainly on capital-budgeting. As an analysts this is their main job; they need to be able to formulate the cash-flows statement for the project while figuring in such factors as risk, and depreciation, differential cash flows to determine if taking on the project is worth the monetary value as well as the risk. An analyst must also be able to measure the risk that is associated with the project and determine what effects it will have on the corporation. Also, an analyst must be able to not only consider the risk associated with systematic but also with contribution-to-firm when it comes to real life situations. Simulation provides an analyst with the opportunity to run a project through a variety of changes to key factors resulting in or as close to real life results. The project then can be put through a sensitivity analysis to see how sensitive the project will be to any changes that may take place. Capital Budgeting Capital budgeting can be a large fit to tackle. There are two separate options that a financial analyst can consider to focus on; cash flows and accounting profits. Both options have their pros and cons....

Words: 2713 - Pages: 11

Premium Essay

Term Paper

...Positioning in the implementation of enterprise business process management system for business process simulation software implementation or, as well as to simulate the processes or processes of monitoring, diagnostic analysis and optimization. The innovation points of system design lies in three aspects: process simulation based on probability analysis, multiplayer collaborative process modeling technology and based on application-driven process monitoring. Keywords: enterprise business process; system design; probability analysis 1....

Words: 4092 - Pages: 17