10. Business Analytics with Simulation

Chapter Objectives

• Discuss the potential use of computer simulation to improve organizational performance

• Explore the role of simulation as a management science tool for optimization and decision making

• Discuss advantages and disadvantages of using simulation as a decision-making tool

• Provide examples of systems from real-world business situations and explain how simulation can be used to improve such systems

• Distinguish between discrete and continuous simulation models and their ability to replicate business settings

• Distinguish between static and dynamic simulation models and their ability to replicate business settings

• Distinguish between deterministic and stochastic simulation models and ...

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