simulation

Definition

The use of a mathematical model to recreate a situation, often repeatedly, so that the likelihood of various outcomes can be more accurately estimated.

Use simulation in a sentence

I told everyone that we were living in a simulation that was computed by consciousness, which baffled everyone in the room.

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The analyst used a 5 year simulation model to project company earnings and debt as well as headcount requirements to sustain the projection.

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The designers of this prototype automobile are now running simulations to gather data about its new airbag systems and anti-collision mechanisms.

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experimental finance Monte Carlo