Thursday, February 26, 2015

Generic Mine Water Balance Model

Posted by Nick Martin

We frequently get requests for an example Mine Water Balance model with dashboards that can be used in sales presentations and as a technical demonstration tool. Recently, a GoldSim Mine Water Balance Model has been posted to the Model Library which fulfills these requirements.

Monday, February 16, 2015

Simulating a One-Armed Bandit

Posted by Jason Lillywhite

If you ever run into GoldSim employees in Las Vegas, you will never see them sitting in front of a slot machine. Dealing with probabilities on a daily basis gives us a feel for our odds when dealing with uncertainty. But what if we built a model that only simulates the one-armed bandit? This is the question I asked myself the other day when Rick mentioned the dice-rolling model. What I thought would end up to be a mere exercise in probabilities ended up in a little game that is almost as addicting as solitaire!

Wednesday, February 4, 2015

Using Period-Based Results in Model Calculations

Posted by Ryan Roper

We've had a number of support inquiries where users need some way of calculating period-based summary data (such as monthly or annual averages or cumulative amounts) for use in other calculations within the same model (e.g. post-processing). GoldSim's reporting periods feature is great for generating this sort of summary data with little effort on the part of the user, but these results are only intended to be viewed and not used for other subsequent calculations. If you do need to use these results for other calculations in the same model, our model library contains a number of examples that illustrate how to calculate such results manually. This blog post briefly describes some of these examples and points you to where you can find them in our library to see them in more detail.