Question

Required

Explain in details the modeling process and how to apply it in a problem situation. Give a clear example to apply the process on (250 words)

Draw a simple diagram to show the case

Answer 1

Modeling process is the series of methods to analyze complex, real-world problems to make predictions about what might happen with various actions and how those actions will be applied.

An example of modeling process is claim process of medical expense.

Explanation:

Modeling process is the series of methods to analyze complex, real-world problems to make predictions about what might happen with various actions and how those actions will be applied.

The steps in modeling process are as follows:

1) Analyze the problem - This step requires identifying the problem precisely and decides its underlying questions clearly and in its entirety.

2) Formulate a model - This step requires formulating the model out of a problem which requires:

a) Gathering data

b) Making simplifying assumptions and documenting them

c) Determine variables and units to be used in the model

d) Establishing relationship between the variables identified and sub-models of the problem

e) Determine equations and functions using variables

3) Solve the model - This step requires using techniques and tools to solve the model such as algebra, calculus, computer programs etc. to derive the solution.

4) Verify and interpret the model's solution - The process of verification determines if the solution works correctly, while the process of validation establishes if the system satisfies the problem's requirements.

5) Report on the model - This step is important for utility of the model and it requires the following:

a) Analysis of the problem

b) Model design

c) Model solution

d) Results and conclusion

6) Maintain the model - As the model's solution is used, it may be necessary or desirable to make corrections, improvements, or enhancements. Thus, maintenance of the model is important for it to be used for future reference and in the time of need.

An example of modeling process is claim process of medical expense which can be shown in the diagram below.