Date Added: Mar 2010
Generally speaking, models are abstractions of real-life systems used to facilitate understanding and to aid in decision making. However, models mean different things in different disciplines. Engineers, financial analysts and statisticians all employ modeling, as a core tool, but each discipline would define models differently. Even with the differences in how models are defined and developed, all disciplines need ways to communicate models, perform what-if analyses and simulations. This paper will highlight the use of the different model profilers in JMP to visualize and perform what-if analysis and Monte Carlo simulation for models defined using SAS/STAT, Microsoft Excel and engineering tools.