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The Role of Computers in Simulation
Computers can be used to:
1) To generate the random numbers
2) To simulate thousands of trials. This is done extremely fast, accurately and reliably.
3) Several combinations of the decision variables can be simulated very fast.
4) Provide management with timely reports, enhancing the competitive edge of the firm.
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Multi-stage decision making under risk (The use of decision trees) Sequencing is concerned with the selection of an appropriate sequence or order of performing a series of jobs
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