The Precision of Simulation Study Results
- 1 June 2001
- journal article
- research article
- Published by SAGE Publications in Applied Psychological Measurement
- Vol. 25 (2), 136-145
- https://doi.org/10.1177/01466210122031966
Abstract
The number of replications in monte carlo simulation studies can be modified to improve the precision of parameter estimates. Given the speed and power of microcomputers, it is not necessary to hold the number of replications to past levels. Reasons why increasing the number of replications is not necessary for satisfactory levels of precision are discussed. Some guidelines are offered in the context of an error tolerance analysis for determining how much precision is needed.Keywords
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