Units: 4
Hours: Lecture, 3 hours; extra reading, 1.5 hours; outside projects, 1.5 hours
Catalog page 143
Prerequisites: BUS 104/STAT 104, STAT 048, or equivalents
Description: Introduces simulation as a tool for analyzing complex systems. Analyzes and discusses the theory and practice of modeling through simulation. Topics include modeling uncertainty and collecting input data, Monte Carlo simulation techniques, model verification and validation, and sensitivity analysis. Examines applications in finance, marketing, operations, and supply chain management.