Respond 1: The most challenging part I found in setting up simulation tables is making sure you have a clear understanding of the information. It was important to figure out if the problems were related to profits or cost and then figuring the values of them. Working daily on excel help me navigate through and I also reworked problems on a separate worksheet to be able to check the models calculations. A good example is someone that works in a warehouse using inventory management to determine how many products to stock when demand is uncertain. Respond 2: The real power of simulations comes from being able to consider many trials ¤ In Excel, the Data Table concept provides a convenient means for doing so ¤ Previously, we used the Data Table concept repeatedly analyze a spreadsheet model for different parameter values, without randomnessCurrently we dont use excel in my line of work of being a stay at home grandparent, parent. But in previous we used it to show our hours used in travel and allowed hours and the hours worked and any extra things that occured
Respond 1:Â The most challenging part I found in setting up simulation tables is making sure you have…
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