Simulation Models

Book: Winton, W.L. & Albright, S. C. (2019) Practical Management Science, 6th edition. Cengage Learning ISBN: 918-1-3376-10278: ***Chapter 11 focuses on simulation models which can be very effective ways to determine a specific course of action.  These simulations can include operational, financial, and marketing models which help a manager make data-driven decisions.  From the information you learned in this chapter, which of the models could be effective in the decision-making process of your organization?  Please provide an example and explain your answer.**** ****(I work for IBM WALMART; I am a Logistics Coordinator) Instructions: The purpose of these assignments is to provide opportunities for students to know the language, assumptions, and perspectives of economic theories while also applying those economic assumptions to determine the logical actions of consumers and firms. The length should be between 275 to 400 words and should utilize 3 resources (textbook, peer-reviewed, and/or popular press). APA formatting for citation and third-person perspective is required. Include critical thought question at the end of case study so other students can respond and engage in learning. ****Professor would like to see more application of the concepts even if it is a hypothetical situation. Follow step by step Rubric below: Initial Post Grading Rubric Response content appropriate for graduate work (70% of score) Word count (10% of score) Critical Thinking Question at the end of the post (10%) Appropriate sources and citation (10%) Peer Response Post Grading Rubric Response content appropriate for graduate work (80% of score) Word count (10% of score) Critical Thinking Question at the end of the post (10%) Week 6 Discussion Question