OPIM 508 Simulation-Based Analytics Select Term:
This is a course on applied Monte Carlo simulation that aims to introduce simulation as a tool for supporting and improving decision-making. The aim is to familiarize the students with the various practical uses of simulation, emphasizing modeling aspects but also covering some statistical issues that are of value to practitioners. All modeling and analysis is done using the MS Excel simulation add-in @RISK (part of Palisade Decision Tools). A balanced set of problems/models from finance, marketing and operations (such as financial risk modeling, market share modeling and capacity planning) are addressed.
SU Credits : 1,5
ECTS Credit : 3
Prerequisite : -
Corequisite : -