Simulation Modeling Using Risk

Reseña del editor

This book introduces simulation concepts by example and shows readers how to solve complex but practical business problems with Monte Carlo, and queuing simulation using spreadsheets and the popular spreadsheet add-in @Risk.

Reseña del editor

With its understandable explanations of Monte Carlo and step-by-step instructions for Excel, Lotus, and @Risk software, this text/software package offers both the instruction and the practice students need to begin solving complex business problems.

It is designed for use as the primary learning tool in a short business simulation course (for advanced undergraduate and MBA students), or as a supplement to courses in investments, corporate finance, management science, marketing strategy, operations management, and actuarial science. The accompanying software will run on either Lotus 1-2-3 or Excel Windows "RM" versions and is available in two versions: Demonstration Disk that only operates the example models in the book or the Full-Function Academic Software. Other features include:
-- Plenty of instruction in solving complex but practical business problems with Monte Carlo and queuing simulation using spreadsheets and the popular spreadsheet add-in @Risk
-- A variety of practical simulation applications including how to simulate fair market value of a derivative; use of simulation to aid competitive bidding; how advertising and promotions can influence market share; how to simulate returns on investment portfolios involving stocks, options, futures and bonds