"Risk Simulation and Queuing" taught by Dr. Cliff Ragsdale - 4 week online course - 11/22/13 to 12/19/13

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Price: $499.00    

Product Feature

• Taught by world renowned expert, Dr. Cliff Ragsdale, who is available throughout course to answer questions and lead discussions.
• 4 week course: 11/22/13 to 12/19/13
• Work from any computer, at any time during the course
• No set times when you are required to be online
• Course consists of discussion forum with instructor, homework with individual feedback, and guided readings.

Product Description

Aim of the Course:

Construct and implement simulation models to model (1) uncertainty in input variables, yielding a risk interval of possible other outcomes,(2) variability in arrivals over time and ensuing queues and (3) how to incorporate model results in decision trees to make optimal decisions.

Prerequisite:

Familiarity with spreadsheet operations.

Who Should Take This Course:

Business analysts and managers with responsibility for specifying, creating, deploying or interpreting quantitative decision models.

Syllabus:

SESSION 1: Risk Analysis

SESSION 2: Advanced Simulation

SESSION 3: Queuing

SESSION 4: Multistage Decision Problems

Required Text:

Please purchase Spreadsheet Modeling & Decision Analysis, 6th ed. by Cliff Ragsdale at http://www.amazon.com/Spreadsheet-Modeling-Decision-Analysis-Introduction/dp/0538746319

Software:

The course uses Risk Solver Platform for Education add-in for Excel. When you buy or rent the book, you get a course code to download and install the software for 140 days

Course Organization:

The course takes place online at the Institute for 4 weeks. In class discussions led by the instructor, you can post questions, seek clarification, and interact with your fellow students and instructor.

Typically requires 15 hours per week. Beginning of each week, you receive the relevant material, in addition to answers to exercises from the previous session. During the week, you go over the course materials, work through exercises, and submit answers. Discussion among participants is encouraged. The instructor will provide answers and comments, and at the end of the week, you will receive individual feedback on your homework answers.

"Risk Simulation and Queuing" taught by Dr. Cliff Ragsdale - 4 week online course - 11/22/13 to 12/19/13 Review

I took the course for the sole purpose of becoming proficient in the use of the Frontline "Risk Simulation and Queuing" software. I thought that my academic background in optimization theory provided me with a strong enough understanding of risk analysis and queuing concepts to easily apply the spreadsheet programming steps provided by the course. Fortunately not only did the course satisfy this requirement but in addition I was pleasantly surprised at how well the accompanying book by Dr. Cliff T Ragsdale added to my understanding of how to properly design a multitude of spreadsheet applications. Dr. Ragsdale demonstrated how to apply the power of the software to a wide range of real world situations from manufacturing and inventory control applications to capital financing and investment issues which require optimizing the utilization of time, capital, labor and materials.
I would recommend this course to anyone interested not only in how to use the software but also desiring to expand their understanding of practical spreadsheet design for use in solving complex real world problems. For me it was time and money very well spent.

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