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Business Analytics Principles, Concepts, and Applications with SAS: What, Why, and How
book

Business Analytics Principles, Concepts, and Applications with SAS: What, Why, and How

by Marc J. Schniederjans, Dara G. Schniederjans, Christopher M. Starkey
October 2014
Beginner content levelBeginner
352 pages
8h 26m
English
Pearson
Content preview from Business Analytics Principles, Concepts, and Applications with SAS: What, Why, and How

F. Simulation

F.1 Introduction

Mathematical models that are used to model probabilistic functions can become extremely difficult to solve. To avoid the complications and limiting assumptions of models like linear programming, simulation can be used to obtain a solution. Once a simulation model is developed and validated, it can be used to answer “what-if” questions. In the role of business analytics (BA), simulation can predict future events and payoffs. Simulations can also permit changes to systems without risk to an actual system. For example, one can assume a 5, 10, or 15 percent increase in costs in a pro forma income statement to simulate and predict the impact on profits without any risk to the organization.

F.2 Types of Simulation ...

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Publisher Resources

ISBN: 9780133989588Purchase book