Question: 1. What are the advantages and limitations of simulation models?
2. Why might a manager be forced to use simulation instead of an analytical model in dealing with a problem of
(a) inventory ordering policy?
(b) ships docking in a port to unload?
(c) bank teller service windows?
(d) the U.S. economy?
3. What types of management problems can be solved more easily by using decision modeling techniques other than simulation?