In the previous tutorial we discussed the fundamental ideas of building models and doing “What-If?” analysis. Now we need to take these ideas and put them into practice so you can see how this works. To do this I will create a simple model of savings over time. Now, I do want to be clear that this is a very over-simplified model and should not be taken as a good predictor of actual results. The idea is to illustrate the techniques involved in building a model and doing “What-If?” analysis.
So. what are the variables, parameters, assumptions, etc. that we need? I have identified these in my model:
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