Identify the seven steps involved in using simulation
What will be an ideal response?
1. Define the problem.
2. Introduce the important variables associated with the problem.
3. Construct a numerical model.
4. Set up possible courses of action for testing by specifying values of variables.
5. Run the experiment.
6. Consider the results (possibly modifying the model or changing data inputs).
7. Decide what course of action to take.
Business
You might also like to view...
Which of the following media timing factors expresses the rate at which new customers enter the market?
A) buyer turnover B) purchase frequency C) media reach D) weighted number of exposures E) advertising impressions
Business
Discuss the contributions by Edward L. Bernays to making the practice of public relations more professional
What will be an ideal response?
Business