Simulation Modeling Using Risk

by Wayne L. Winston

With its understandable explanations of Monte Carlo and step-by-step instructions for Excel, Lotus, and @Risk software, this text/software package offers both the instruction and the practice students need to begin solving complex business problems.It is designed for use as the primary learning tool in a short business simulation course (for advanced undergraduate and MBA students), or as a supplement to courses in investments, corporate finance, management science, marketing strategy, operations management, and actuarial science. The accompanying software will run on either Lotus 1-2-3 or Excel Windows "RM" versions and is available in two versions: Demonstration Disk that only operates the example models in the book or the Full-Function Academic Software. Other features include:
-- Plenty of instruction in solving complex but practical business problems with Monte Carlo and queuing simulation using spreadsheets and the popular spreadsheet add-in @Risk
-- A variety of practical simulation applications including how to simulate fair market value of a derivative; use of simulation to aid competitive bidding; how advertising and promotions can influence market share; how to simulate returns on investment portfolios involving stocks, options, futures and bonds

Paperback

First published August 1, 1995