1. An electronic device for use in practicing a technical computing environment, the technical computing environment for developing and performing engineering and scientific related functions, the electronic device comprising, an input device for use by a user; a modeling tool responsive to inputs from the user for: creating a model of a linear time invariant system with a delay, the modeling tool: modeling the linear time invariant system with the delay as a system including a feedback interconnection of a linear time invariant system without delay and a collection of one or more delays, and modeling the system including the feedback interconnection of the linear time invariant system without delay and the collection of one or more delays as a plurality of state-space equations, at least one of the plurality of state-space equations including at least one operator representing the delay, the model including a transfer function; representing the transfer function as a function of a delay-free matrix and a matrix of delay elements representing the collection of one or more delays; a processor for calculating a response of the model by evaluating the delay-free matrix and the matrix of delay elements separately; and one or more storage devices to store the response and the model of the linear time invariant system with the delay.