What are the major steps in the simulation process what is, Strategic Management

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What are the major steps in the simulation process what is

Question: 1. What are the major steps in the simulation process?

2. What is Monte Carlo simulation? What principles underlie its use, and what steps are followed in applying it?

3. Why is a computer necessary in conducting a real world simulation?

4. What is operational gaming? What is systems simulation? Give examples of how each may be applied.

5. Do you think the application of simulation will increase strongly in the next 10 years? Why or why not?

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