Step 2: Assuming nothing is known about formula_1, a uniform prior in the interval formula_56 is employed. The parameter formula_46 is assumed to be known and fixed to the data-generating value formula_53, but it could in general also be estimated from the observations. A total of formula_59 parameter points are drawn from the prior, and the model is simulated for each of the parameter points formula_60, which results in formula_59 sequences of simulated data. In this example, formula_62, with each drawn parameter and simulated dataset recorded in Table 1, columns 2-3. In practice, formula_59 would need to be much larger to obtain an appropriate approximation.