Lecture J3: Estimation of Absolute Performance, Part 3 - Steady-State Simulations (2019-11-12)

This lecture stresses the importance of interval estimation over point estimation and demonstrates both how to interpret interval estimates as well as how the size of the intervals will change with sampling and variance parameters. It then concludes with discussion of how to avoid initialization bias in steady-state simulation models of non-terminating systems, making use of intelligent initialization, warm-up periods, and batch means.