Modeling Discrete & Stochastic Events
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This article was published on: January 21, 2017
It’s generally a good idea to begin thinking about your models with continuous time and quantities, particularly for strategic applications where you care about the big picture. But there are times when it matters that quantities are discrete – you can’t ride half a horse. Here’s a quick look at modeling such situations, starting with a pulse of arriving people:
The model is: discrete 1.mdl
Here’s a followup, incorporating random processes:
The model: stochastic 1.mdl
And finally, a more practical example that puts it all together:
The model: lemonade 1.mdl
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