Umm... don't do that.
In theory, it's an excellent way to see what's going on.
In practice, it pins a CPU for I don't know how long. My quick supposition is that it really gets bogged down trying to figure out best attacker/best defender over and over again. I've done tests with 100 units vs 100 before, but 1000 vs 1000 needs a bit more patience than I have for this.
On the other hand, I was going to sleep anyway, so I let the game run over night. At some point, it did actually produce an answer.
Archers, 83hp, defending with 115% bonus, against 100 hp Axemen with no promotions.
The displayed combat odds that you see are 5.00 vs 5.35, 39.3%.
Doing the experiment, we see
390 Archers killed (that's a match)
127 Archers alive with 11hp
162 Archers alive with 29hp
143 Archers alive with 47hp
124 Archers alive with 65hp
54 Archers alive with 83hp
Do this experiment 5 more times, and you have the data you need to correctly calculate the odds that two vanilla axes will kill a healthy archer at 115%.
Do it 20 more times (approximately) and you can calculate the odds that any number of axes you want will be able to kill any number of healthy archers at 115%
And yes, if you next wanted to know how it would come out with promoted axes, you'd have to do another 20+ experiments....
OR
You realize that the empirical results match the theoretical results, and do the calculations in a spread sheet. Then, when you want to know how things change when the archer has only 3 turns of fortification instead of 5, or the city has walls, or whatever you like, you change one number in the spread sheet and read the new answers.
You build one spreadsheet
You tweak the defensive bonus 41 times, recording the answers
You change the axe from Level 1 to Level 2, and record another 41 answers.
Now you have everything you need to work out your base cases. Start with a simple one - 4 archers defending a city at 115%. How many unpromoted axes do you need to have a 99% chance of capturing the city in one turn? (grind grind grind DING!) How many promoted axes will get the job done? (more grinding). Hey, it's fewer! Is the difference enough to justify a barracks?
Now do it the same work at 135% If the promoted vs unpromoted decision gets easier, then you don't need to worry about testing all of the other higher bonuses, the answers not going to come back. You go the other way, and test a few points to see if the answer becomes too close to call.
As another test, you add an archer to the defenders, and see if that changes the barracks/no barracks result.
The calculations require a non trivial understanding of probability and combinatorics, and they are tedious to do, but not difficult, and they are finite. I don't recommend the exercise to anyone who just wants to play the game for fun.
But it's not "incalculable".