Types of simulation models ~ gwax programs

Stochastic vs. Deterministic

Stochastic simulation: a simulation that contains random (probabilistic) elements, e.g.,
Examples

Inter-arrival time or service time of customers at a restaurant or store
Amount of time required to service a customer

Deterministic simulation: a simulation containing no random elements
Examples

Simulation of a digital circuit
Simulation of a chemical reaction based on differential equations

Static vs. Dynamic Models

Static models
Model where time is not a significant variable
Examples
Determine the probability of a winning solitaire hand
Static + stochastic = Monte Carlo simulation
Statistical sampling to develop approximate solutions to numerical problems

Dynamic models
Model focusing on the evolution of the system under investigation over time

Continuous vs. Discrete

Discrete
State of the system is viewed as changing at discrete points in time
An event is associated with each state transition
Events contain time stamp

Continuous
State of the system is viewed as changing continuously across time
System typically described by a set of differential equations