Identify the application of queuing theory

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Question 1: What is Monte Carlo Simulation and how do you apply it in business?

Question 2: Identify the application of Queuing theory in various areas of business.

Question 3: What is the use of SIMULATING machine breakdown and repair? Enumerate at least three.

Question 4: What is the principle of simulation as applied in business? Explain.

Reference no: EM133212151

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