Lecture J1 (2025-11-04): Estimation of Absolute Performance, Part I (Introduction to Point and Interval Estimation)

In this lecture, we introduce the estimation of absolute performance measures in simulation – effectively shifting our focus from validating input models to validating and making inferences about simulation outputs. Most of this lecture is a review of statistics and reasons for the assumptions for various parametric and non-exact non-parametric methods. We also introduce a few more advanced…