You have built a simulation model, but now must choose runs to i) validate it, and ii) to gain insight about the associated real system and to make managerial recommendations. Do you need guidance?

Hubbert’s graphical-heuristic method (1956) Cavallo’s article begins, “It is well known that M. K. Hubbert (in 1956) successfully predicted the timing (1970) of peak US oil production.

Simulations indicate that the proposed method is statistically very efficient and computationally practical in high-dimensional problems. We apply the new method to the construction and estimation of ...