Major drawbacks of using monte carlo simulation, Operation Management

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Major drawbacks of using monte carlo simulation

Problem 1: Briefly describe an Operations Management situation for which Monte Carlo simulation (i.e. simulation using random numbers) would be a particularly appropriate modeling tool, and how the results from a simulation would be used by a decision maker in that situation.

Problem 2: Identify one of the major drawbacks of using Monte Carlo simulation in Operations Management.

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Operation Management: Major drawbacks of using monte carlo simulation

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Operation Management: Major drawbacks of using monte carlo simulation

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