Simulation-based optimization: Difference between revisions

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== Simulation-based optimization methods ==

ThereThe aremain fiveapproaches methods classifying thein simulation based optimization. They are discussed below:.

<ref name=Fu>{{cite book|last=Fu|first=Michael, editor|title=Handbook of Simulation Optimization|publisher=Springer|year=2015|url=http://www.springer.com/us/book/9781493913831}}</ref>

=== Statistical ranking and selection methods (R/S) ===

Ranking and selection methods are designed for problems where the alternatives are fixed and known, and simulation is used to estimate the system performance.

In the simulation optimization setting, applicable methods include indifference zone approaches, optimal computing budget allocation, and knowledge gradient algorithms.

=== Response surface methodo<nowiki/>logy (RSM) ===