What are the applications of simulation models?
Simulation models are used in various fields like healthcare, engineering, finance, and logistics to predict outcomes.
Can you give me an example in healthcare?
Sure! In healthcare, simulation models can predict patient flow in hospitals, helping to optimize resource allocation.
What about in finance?
In finance, simulation models are used for risk assessment and to forecast market trends based on historical data.
Are there any applications in education?
Yes, in education, simulation models can create virtual learning environments for students to practice real-world scenarios.
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