Lecture J2 (2025-11-06): Estimation of Absolute Performance, Part II (Terminating Systems/Transient Simulations)

In this lecture, we review estimating absolute performance from simulation, with focus on choosing the number of necessary replications of transient simulations of terminating systems. The lecture starts by overviewing point estimation, bias, and different types of point estimators. This includes an overview of quantile estimation and how to use quantile estimation to use simulations as…