Poisson and negative exponential distributions

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Reference no: EM133169599

Create a PowerPoint presentation that addresses each of the following points/questions.

1. When are the Poisson and negative exponential distributions used? Provide an example from any real-world experience.

2. What are the advantages and limitations of simulation models? What is operational gaming? What is systems simulation? Give examples of how each may be applied.

3. What is Monte Carlo simulation? What principles underlie its use, and what steps are followed in applying it? Provide an example from any real-world experience.

4. What is FIFO? Where is it applied and not applied? Discuss how FIFO is applied in your company or any other company you know.

Reference no: EM133169599

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