What you'll learn
- Simulation Model
Requirements
- No
Description
Simulation is a technique used for evaluating alternative course of action based upon facts and assumption with a computerized mathematical model in order to represent actual decision making under conditions of uncertainty. Simulation is a method of solving decision making problem by designing ,constructing and manipulating a model of the real system. It is a useful technique for solving a business problem where many values of the variables are not known or partly known in advance and there is no easy way to find these values. Simulation may be defined as a “quantitative technique that uses a computerized symbolic model in order to represent actual decision making under uncertainty for determining alternative alternative courses of action based upon facts and assumptions.”
Simulation is probably the most important technique used in analyzing a number of complex systems where analytical methods are either difficult or not known .Basically it is a technique of manipulating a model through a process of imitation .It normally involves a large number of computations .Whenever mathematical models for getting an analytical solution does not exist , simulation method enables us to obtain a numerical solution to the problem. A simulation model may be considered to be to be consisting of two basic phases , namely , Preliminary Worksheet and Final Worksheet. In this course , the students will learn:
Concept of Simulation
Mechanism of Monte Carlo Method
Solution of Queuing Problems using Simulation
Solution of Inventory Problems using Simulation
Solution of Financial Problems using Simulation
Solution of Maintenance Problems using Simulation
Who this course is for:
- Graduation Students, Management Students, MBA, BBA, Commerce students, Data Analytics students
Instructor
- 3.9 Instructor Rating
- 85 Reviews
- 2,189 Students
- 28 Courses
Dr.HIMANSHU SAXENA is a Leading Educationalist,MBA, Ph.D , UGC-NET & RPSC STATE ELIGIBILITY TEST QUALIFIED. Dr.HIMANSHU SAXENA has been teaching and imparting education to the fullest of his knowledge for the last 19 years. Author of many books on various subjects like QUANTITATIVE TECHNIQUES,OPERATIONS RESEARCH, BUSINESS MATHS & STATISTICS, RESEARCH METHODS IN MANAGEMENT, PROJECT MANAGEMENT. Dr.HIMANSHU SAXENA has been a Visiting faculty in many esteemed colleges of India. His Teaching methods and techniques have been widely accepted and appreciated by students and faculties all ovet the country. The respect and the affection of his students has been acknowledged by him as his Greatest Reward. He has organized and participated in many seminars and workshops in management and other disciplines. Over the years , Dr.HIMANSHU SAXENA has motivated and encouraged thousands of students and professionals to achieve MISSION SUCCESS both academically and Professionally.