Module 4 Take Home Assignment # 6 – Risk Management and Decision Making

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Instructions:

  • Answer all questions.
  • Organize your work suitably.

Questions:

  • What are the benefits and limitations of using Monte Carlo analysis in the risk management and decision making process?
  • Demonstrate how Monte Carlo simulation can be used in the policy setting and explain why might a manager be forced to use simulation instead of an analytical model in dealing with a problem of the U.S economy?

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