Constructing the model, Managerial Accounting

Assignment Help:

Constructing the Model

Steps:

1) Identify the objectives of the simulation (A detailed listing of the results expected will help to clarify the output variables.

2) Recognize the input variables. Differentiate among controlled and non-controlled variables.

3) Where necessary determine the probability distribution

4) Identify any parameters and status variables

5) Identify the output variables

6) Determine the logic of the model

Note:

The key questions are how the input variables changed into output results is, what formulae/decision rules are required? How will the probabilistic elements be deal with? How must the outcomes be presented?


Related Discussions:- Constructing the model

Security analysis and portfolio management, Security Analysis and Portfolio...

Security Analysis and Portfolio Management Define Capital Market Line and how is it dissimilar from Security Market Line. Describe with illustrations?

MOH Cost Help, During the year the company worked a total of 145,900 machin...

During the year the company worked a total of 145,900 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,305,346. What is the amount of underapplied o

Definition of activities based costing, Definition of Activities based cost...

Definition of Activities based costing Activity based costing is a system that focuses on activities as the fundamental cost objects and uses the costs of these activities as b

Loan syndication, Loan Syndication : There are two ways of syndication a...

Loan Syndication : There are two ways of syndication as: direct lending and through participation. - Direct Lending: regarding "direct lending" all the lenders sign the loa

English, accounting process or accounting cycle

accounting process or accounting cycle

Predetermined Overhead, SSI, a meat/burger/chicken processing manufacturing...

SSI, a meat/burger/chicken processing manufacturing plant loacted in Idaho, USA prepares

Arrival rates-service rates-traffic intensity, Arrival Rates, Service Rates...

Arrival Rates, Service Rates, and Traffic Intensity The (average) arrival rate is the rate of arrival of customers at a queue, and is often denoted by x. If 10 customers arr

Explain the growth, Explain the growth, index, sectoral, gilt and money mar...

Explain the growth, index, sectoral, gilt and money market methods? (i) What are the key variations among the open ended and close ended methods? What are the plus and minuses

150 to 200 words, solutions for (POS) slow printing of sales tickets and un...

solutions for (POS) slow printing of sales tickets and unpredictable action of cash drawers. when credit approvals delayed the checkout process or when the computer was down, thus

Why is the activity based costing unaccepable for ex, Ask question #Miwhy i...

Ask question #Miwhy is the activity based costing unaccepable for external financial reportnimum 100 words accepted#

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd