Problem
1. Explain in your own words how Monte Carlo simulation may be useful to a decision maker.
2. Explain how the simulation process works to produce results that are helpful to a decision maker.
3. If you were to make Leah Sanchez's decision of how many calendars to order, what order amount would you chose? Why?
4. Consider the statement "In simulation models, the values for the uncertain cells are chosen randomly." Why is this statement incorrect, strictly speaking?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.