Simulation and Statistics with Excel An Introduction to Business Students

The use of simulation techniques has increased in importance in recent history, and simulation activities are an important resource for advanced preparation for the organization and execution of events. When formal mathematics is not enough, simulation may be the only option capable of approximating solutions. Simulation and Statistics with Excel: An Introduction to Business Students offers a non-rigorous and practical tour of the simulation procedure on computers, using a versatile and accessible resource, the Microsoft Excel spreadsheet. This book covers the concepts essential to understanding the basic principles and approaches of statistical simulation, allowing for the study of complex systems. Aimed at students in business and operational research beginning to use simulation as an instrument for understanding existing or proposed processes, this book will lay solid foundations in understanding simulation experimentation.

Key Features:

• Provides a basis to understand the approaches and principles of simulator experiments.
• Uses a universal and easily accessible resource.
• Introduces simple examples to teach the fundamentals of simulation.

1. Fundamentals of The Simulation Experiment

2. Introduction to Excel

3. Uncertainty and Random Numbers

4. Generation of Random Variables

5. Design of Simulation Experiments

6. Goodness-of-Fit Tests

7. Statistical Hypothesis Testing

8. Formulation of Basic Simulations

9. Proposed Problems

Luis Fernando Ibarra is a Systems Engineer at the Universidad de Los Andes, and an Emeritus Professor at the National Experimental University of Táchira. He obtained his M.Sc. in Industrial Engineering from the Georgia Institute of Technology, and has a diploma in Data Mining from the Central University of Venezuela. In addition, he has an academic management degree (D.M.) in Organizational Leadership from the University of Phoenix.