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Types of Simulation
1) Operational Gaining Method:
This refers to those situations involving conflict of interest among players or decision makers within the framework of a simulated environment. The two most widely used forms of operational gaming are military games and business management games (mostly computer oriented)
2) Monte Carlo Method:
In Monte Carlo simulation the behavior of at least some components of the model are probabilistically determined. It can be used to solve several different classes of problems. The first are problems that involve some kind of stochastic process while the second are deterministic methods.
To carry out a realistic simulation involving probabilistic elements, it is necessary to avoid bias in the selection of the values which vary. This is done by selecting randomly using one of the following methods.
• Random nos. generated by computers• Random no. tables• Variables in a Simulation Model
A business model usually consists of linked series of equations and formulae arranged so that they behave in a similar manner to the real system being investigated.
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Full Service Non Recourse: in this method the book debts are purchased through the factor assuming 100 percent credit risk. In case of default through the debtor the whole risk is
INVENTORY CONTROL The activities of a business during a financial year combine investment projects in progress with new projects commencing and others terminate within the year
Calculation
do you write a case study regarding this topic?
identify and explain the many classification of costs for planning, control,performance evaluation and decision making.
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Coefficient of Determination (r 2 ) If the regression line calculated by the least square method were to fit the actual observations perfectly, then all observed points would l
contribution margin
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