Probability of Buying a Bike

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Probability of Buying a Bike Given Income and Expenditures

Description

A simple GoldSim tutorial model that calculates the probability that Jason will be able to buy a bike given his weekly allowance and his spending habits. The primary result of this example model is the probability distribution which provides the likelihood that Jason will be able to buy the bike given his financial constraints.

This simple model provides examples of using Discrete Change elements, Timed Events, Reservoir elements, and Distribution Result elements. The model is run for 100 realizations. Each realization covers 365 days.

 

Making Better Decisions In An Uncertain World