With its understandable explanations of Monte Carlo and step-by-step instructions for Microsoft 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.
A book/CD-ROM package showing how to use simulation techniques to model and solve business problems in finance, marketing, and operations using Microsoft Excel and Palisade's @Risk 4. Practical examples on topics such as hedging with options, simulating the risk of derivative securities, and modeling market share provide a concrete introduction to simulation concepts. Detailed instructions for using the software illustrate steps necessary to perform various simulation techniques. The CD-ROM contains a special version of @Risk, and example files. Winston teaches operations and decision technologies at Indiana University. Annotation c. Book News, Inc., Portland, OR (booknews.com)