Benefits of Simulation
Discuss the many costs that businesses face today. Is it always practical to test new ideas via a 'real life' study - with participants, facilities, etc? If not, how can a simulation be utilized to test ideas while keeping costs manageable? If a simulation is used, what steps are needed in order to have a successful model?
Review and Reflection
Review and reflect on what you learned in the past 8 weeks. What is the most practical and easily applied lesson you learned? What was the hardest to grasp? Why? What else do you need to know about Quantitative Analysis?