As an example of how simulation can be used for operations research, consider the following college enrollment model. A certain college wants to analyze the effect of admissions and freshman retention rate on the colleges enrollment so that it can predict the future need for instructors and other resources. Assume that the college has estimates of the percentages of students repeating a grade or leaving school before graduating. Develop a matrix equation on which to base a simulation model that can help in this analysis.

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To develop a simulation model for analyzing the effect of admissions and freshman retention rate on college enrollment we can use a matrix equation ap... View the full answer