ModelAssist for @RISK
MBA programs try to get students to think like managers. Unfortunately,
many businesses problems discussed in classes result in deterministic solutions - the uncertainty is largely ignored, other than through discussion. To get students to think more rigorously about uncertainty, I teach a Monte Carlo modeling class to first-year MBA students. ModelAssist® is an excellent "textbook" to help convey
the necessary amount of statistics and theory these students need to simulation problems. It won't bore them like many traditional textbooks.
The hands-on e-book provides students with a solid foundation and maintains their interest by being linked to the simulation software we use. Students quickly learn how to model uncertainty, fully utilize the software's, and draw meaningful conclusions about the impact of risk on the problem's expected outcome.
They will be able to discuss the probability of an outcome happening, greatly enriching classroom discussion!
Dr. George W. Gallinger
W.P. Carey School of Business
Arizona State University
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