Describe the key characteristics of a simulation model.

Simulation models’ purpose is to solve business problems. Simulations are a safe and efficient way to solve real-world issues. Understand the concepts and answer the following:

1. What are some key tools that can be used to create simulation models?

2. What are the advantages and disadvantages of simulation models?

3. Describe the key characteristics of a simulation model. How do these characteristics play in your organization that you belong to? You can choose a past or present organization. Explain.

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