Simulation Modeling Using @RISK: Updated for Version 4

With its understandable explanations of Monte Carlo and step-by-step instructions for Microsoft Excel, Lotus, and @Risk software, this text/software package offers both the instruction and the practice students need to begin solving complex business problems. It is designed for use as the primary learning tool in a short business simulation course (for advanced undergraduate and MBA students), or as a supplement to courses in investments, corporate finance, management science, marketing strategy, operations management, and actuarial science.

A non-technical and practical introduction to the methods and concepts of Risk (Monte-Carlo) simulation with spreadsheets and the add-in At Risk. Financial analysts and portfolio managers will learn how to price derivatives, simulate stock prices and options, manage interest rate risk, hedge with futures, and more. Disk contains the Excel or Lotus 1-2-3 add-in At Risk demonstration software to operate all of the models in the book.

With its understandable explanations of Monte Carlo and step-by-step instructions for Microsoft Excel, Lotus, and @Risk software, this text/software package offers both the instruction and the practice students need to begin solving complex business problems. It is designed for use as the primary learning tool in a short business simulation course (for advanced undergraduate and MBA students), or as a supplement to courses in investments, corporate finance, management science, marketing strategy, operations management, and actuarial science.

Booknews

A book/CD-ROM package showing how to use simulation techniques to model and solve business problems in finance, marketing, and operations using Microsoft Excel and Palisade's @Risk 4. Practical examples on topics such as hedging with options, simulating the risk of derivative securities, and modeling market share provide a concrete introduction to simulation concepts. Detailed instructions for using the software illustrate steps necessary to perform various simulation techniques. The CD-ROM contains a special version of @Risk, and example files. Winston teaches operations and decision technologies at Indiana University. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Wayne L. Winston is Professor of Operations and Decision Technologies in the Kelley School of Business at Indiana University, where he has taught since 1975. Wayne received his B.S. degree in Mathematics from MIT and his Ph.D. degree in Operations Research from Yale. He has written the successful textbooks OPERATIONS RESEARCH: APPLICATIONS AND ALGORITHMS, MATHEMATICAL PROGRAMMING: APPLICATIONS AND ALGORITHMS, SIMULATION MODELING WITH @RISK, DATA ANALYSIS AND DECISION MAKING, DATA ANALYSIS FOR MANAGERS, SPREADSHEET MODELING AND APPLICATIONS, AND FINANCIAL MODELS USING SIMULATION AND OPTIMIZATION. Wayne has published over 20 articles in leading journals and has won many teaching awards, including the school-wide MBA award four times. His current interest is in showing how spreadsheet models can be used to solve business problems in all disciplines, particularly in finance and marketing.