Simulation Models for Business Planning and Economic Forecasting
Donald Erdman, SUGI Proceedings, 1993
Simulation models are useful in many diverse fields. This paper illustrates the use of the SAS/ETS® MODEL procedure with examples of a business planning model and a macro econometric forecasting model. In addition, several new features of the MODEL procedure are introduced. Topics discussed include: nonlinear and simultaneous relationships; estimation of unknown model parameters; dynamic processes; goal-seeking solutions; and Monte Carlo simulation to construct confidence bounds.