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Describe concept and process of spreadsheet modeling

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Question

1. Describe the concept and process of spreadsheet modeling and analysis. Give a real-world example where spreadsheet modeling and analysis is useful. Answer in at least eight sentences.

2. What is a marketing problem in applications of linear optimization? Briefly discuss the decision variables, the objective function, and the constraint requirements in a marketing problem. Give a real-world example of a marketing problem.

3. Explain how the simulation process is used in business analytics models. What are the advantages of using simulation? What are its limitations? How can a simulation model be verified? Give a real-world example where using simulation is appropriate.

Reference no: EM133459127

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