Simulation & Modeling Question Bank (continued)

1. Explain what is meant by Model Validation?How do you validate models in
   practice ?What are the major sources of error in validation?
2. What are different type of Models?Explain their general characterstics?
3. Explain the Monte-Carlo Simulation Technique.
4. Explain Poisson Distribution Technique?
5. What do you understand by Verification and Validation of simulation model?