A Methodological Approach to Assessment and Reporting of the Model Adequacy in Simulation Studies

Michael Sony, V. Marriapan

OAI: oai:igi-global.com:280737 • DOI: 10.4018/IJORIS.20211001.oa2

Assessment and Reporting of Model Adequacy is an important step in the simulation modelling process. It stipulates the level of precision and accuracy, which are important features of the model predictions. In an academic research activity, an important step for model development is the process of the identification or accepting whether the model is wrong. The evaluation of the adequacy of developed models is not possible through a single statistical test. This paper delineates a technique to implement model adequacy. A live case is demonstrated on the proposed methodology by evaluating a simulation model which was designed by us to simulate a well-established mathematical model. A step by step methodological approach is delineated in this paper along with a case study of investigation of a simulation model with a mathematical model is used to demonstrate this methodology. The paper concludes with an Algorithm and a flow chart for performing model adequacy for assessing the adequacy of the developed model with existing models.

Business Process Management Business and Management Business Information Systems