Vault Guide to Finance Interviews

Book Description

From the Vault Career Library covering the basics of financial statements, fit portion of interviews and equity and debt valuation techniques in a step-by-step process.

Customer Reviews:

Everything you need to know, but not enough!.......2007-01-25

The Vault Guide to Finance Interviews is an essential read for any college student trying to start off his or her career with a high powered job in the world of banking or investing. This is particularly useful for those seeking a job in the investment banking field, trading, equities research, or anything closely related to Wall Street.

The guide helps by telling what sort of unpleasant surprises to expect from the interview process. If you haven't had any interviews or hadn't attended an interviewing class or workshop, you will be surprised after reading this book how intense some of these interviews can get. The Vault Guide tries be a good coach with some good behavioral tips to navigate those stressful moments.

The bulk of this book is a review of general finance skills - everything from DCF's, CAPM, financial statements, to derivatives, PE ratios, and bond pricing. The material is extremely comprehensive and should only be a review of what to know. Don't read this expecting to learn finance because there is too much information in too little space. The final part of the Guide has a few common brainteaser questions and suggested solutions to properly answer them.

The Vault Guide is not an answer to getting a Wall Street job, but it's a good starting point and a necessary tool in your arsenal of interview preparation. I suggest using this as a guide to find your weaknesses and obtain other books such as "How Would You Move Mount Fuji?"

A very good start.......2006-10-23

I'll be working for Morgan next year and I really credit this book. I had only taken a couple finance classes two years ago so this was a nice refresher. It provides a great summary of all the equations and relationships that you need to memorize for i-banking interviews. Read it carefully but also stay up on your WSJ. You'll need to talk current events and not just formulas.

Don't waste your time and money on this one.......2006-04-10

If you absolutely have no idea what "finance" is, you might want to check out this book at your local friendly public library. Otherwise, check out other finance career guides. This book is a waste of time and much of the stuff is either inaccurate or not useful at all. I know because I sit on the other side of the table at finance interviews: I'm a seasoned interviewer. (In fact I'm better at recruiting at doing my real job... Sigh.) Let me tell you this: yes, I (and my fellow Wall Street interviewers) will ask some of the basic questions you'll see in this book, but we are lookign for honest, personal answers, not canned ones. Also, we look for *common sense*. Trust me, all successful candidates demonstrate common sense, and also each person's uniqueness ("what makes you sparkle"). Then, for the difficult questions you'll likely encounter, you won't find in this poorly written, poorly edited book. It'll likely confuse you. Instead, read the Wall Street Journal, read up on finance topics that interest you, and beef up your basic math skills if they are lacking at the moment. Again, we want smart people who can think, not someone who just fits into a formula. Of course, many people who do get finance jobs are formula kind of people, but do they get paid a lot? I bet not.

Disappointing, Insufficient.......2002-08-13

While many of the examples presented often arise in interviews, a majority of those given are among the most basic and simplistic questions you might be asked. You need to be prepared to be hit with far more in-depth and probing questions during the interview process. If you have no idea what to expect, this book will get you started. But for most people considering a career in finance, it will provide little benefit.
And a skimpy 150-page paperback, list-priced at $, (or for that matter, ANY book) really shouldn't have full page ads interspersed throughout; What is going on with that?
This book feels like the author churned it out in a weekend. It is more akin to a supplement that a magazine or newspaper might issue, than an actual book.

An investment with a fast pay off.......2002-01-22

I am studying an MBA at IESE's Business School in Barcelona, and this book has been key to help me succeding in getting a Summer Internship in Investment Banking. It is clear, concise, and covers most of the issues asked in Finance interviews. It is a must read for anyone with real interest in Investment Banking and without previous experience in this industry

Vault.com Guide to Finance Interviews, 3rd Edition

Average customer rating:

Not bad, but...
Excellent, excellent, excellent!
Essential resource

Vault.com Guide to Finance Interviews, 3rd Edition
D. Bhatawedekhar
Manufacturer: Vault.com
ProductGroup: Book
Binding: Paperback

Job Hunting | Job Hunting & Careers | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

How to Interview Like a Top MBA: Job-Winning Strategies From Headhunters, Fortune 100 Recruiters, and Career Counselors

ASIN: 1581311230

Book Description

If you're looking for a job with an investment bank, commercial bank, mutualfund, or as a finance official at a corporation, you're bound to get technicalfinance questions during your interviews. The Vault Reports Guide to Finance Interviews is a must for anyone preparing for interviews. This 150-page guide is packed with key finance concepts and more than 80 sample questions to help you ace your interviews.

A few things you'll find in The Vault Reports Guide to Finance Interviews.

Valuation techniques Bonds and interest rates Stock, including stock splits, buybacks, and preferred stock Basic accounting concepts, including income statements, cash flow and balance sheets Mergers and acquisitions Currencies Option and derivatives Brainteasers, guesstimates, and other stress questions Skills and personality traits finance interviewers are looking for Key terms

And much more!

Excerpts from The Vault Reports Guide to Finance Interviews:

You say accretive, I say dilutive

A merger can be either accretive or dilutive. A merger is accretive when a firm with a higher price to earnings ratio (we'll call the company "Company 1," and label it's P/E ratio "P/E1") acquires a firm of a lower P/E ratio (which we will label P/E2). Why do we call the merger accretive?

The company's new earnings will be E1 + E2. Let's call this Enew. Usually, the new company will maintain the P/E ratio of the acquiring firm. Post-acquisition, it will be valued as P/E1 x earnings.

However, the amount that Company 1 had to pay was only PE2 x E2. Hence it paid a lower price when compared to the additional valuation it received from the market due to the increased earnings. (Mathematically, this can be represented by if P/E1 > P/E 2, then P/E 1(E1 + E2)> P/E1(E1) + P/E2(E2)) Hence the word accretive. A simple way to memorize this is: "Accrete is to add, add what?..value." So if I pay less and receive more value, it is accretive.

The reverse of this situation is a dilutive merger, and occurs when a company with a lower P/E ratio buys a firm with a higher P/E ratio. Here we use the term "buys" because the buying firm determines the final valuation multiple.

We'll look at a hypothetical example of a dilutive merger to make this clearer. Say Big Gun, a sporting goods store wants to buy a fast-growing chain called Ubershoe. Let's also say that Big Gun is valued at $500 million with earnings of $50 million, while Ubershoe is valued at $200 million with earnings of $10 million. Big Gun trades at a P/E ratio of 10/1; the combined company will also trade at this ratio. After the merger, the company will have earnings of $60 million, and will be valued at $600 million. This is a dilutive merger because previous to the deal, the combined valuation of the companies was $700 million.

Sample questions

1. Company A is considering acquiring Company B. Company A's P/E ratio is 55 times earnings, whereas Company B's P/E ratio is 30 times earnings. After Company A acquires Company B, will Company A's earnings per share rise, fall, or stay the same?

Company A's earnings-per-share will rise, because of the following rule: when a higher P/E company buys a lower P/E company, the acquirer's earnings-per-share will rise. The deal is said to be "accretive," as opposed to "dilutive," to the acquirer's earnings.

2. Describe a recent M&A transaction that you've read about.

If you are preparing for an I-banking interview, this is a must prepare question. Read the papers and have at least one transaction thoroughly prepared. You should be able to cover various aspects of the transactions. You should know what the structure of the transaction was. Who was buying whom, or was it a merger of equals? Was it an all-stock ransaction or was there cash involved?

For example, you could talk about America Online's acquisition of Netscape. In that transaction, a stock swap valued at $4.2 billion, AOL acquired Netscape. You should talk about how the acquisition was structured from a financial point of view, and the effect the acquisition is likely to have on AOL's earnings (both long-term and short-term).

3. What were the reasons behind that transaction? Does this transaction make sense?

Perhaps more important than understanding the nuts and bolts mechanics of transactions is understanding the factors that drive M&A activity. The America Online/Netscape deal is especially interesting in this regard because it involves heavy strategic planning in a fast-moving industry (as opposed to, say, the merger between Mobil and Exxon, through which the two giants simply hope to consolidate, save, and boost profits).

America Online is a content-driven company with more than 14 million subscribers. Netscape has kick-ass software, in the form of a popular browser and tools for businesses to pursue e-commerce. However, Netscape has seen its browser market share fall as Microsoft, with its immense distribution strength (and questionable pairing of browser with operating system) has elbowed its way into the category. And despite America Online's undisputed lead in market share as an Internet service provider, it had not moved aggressively into what many consider to be the golden road of the Internet - e-commerce.

This deal partners AOL and Netscape with Sun Microsystems, which is a hardware company that boasts strong hardware products and sales and support staff. The partners envision a world in which companies use the e-commerce tools developed by Netscape, hawk their wares on America Online (lured by the audience AOL can deliver), and are supported in their hardware and service needs by Sun. Synergy for the 21st century.

Customer Reviews:

Not bad, but..........2001-12-07

this book is best for newbies still in awe of bulge bracket names.

Excellent, excellent, excellent!.......2001-09-09

in my opinion, don't interview for finance or investment banking jobs without first reading this book.

Essential resource.......1999-03-10

After reading this guide, I don't see how anyone could walk into a finance or I-banking interview without knowing the concepts in this book. It's FUll of actual Wall Street questions...I got a lot of 'em in my interviews.

The Vault.com Guide to Finance Interviews (Insider's Guide for Job Seekers Ser.)

Average customer rating:

The Vault.com Guide to Finance Interviews (Insider's Guide for Job Seekers Ser.)
Vault.com Staff
Manufacturer: Vault.com
ProductGroup: Book
Binding: Paperback
ASIN: B000HN05SM

CCEL Classics CD: works by Saint Augustine, John Calvin, John Donne, Julian of Norwich, Brother Lawrence, Martin Luther, Saint Teresa of Avila, Thomas Aquinas, Thomas a Kempis, John Wesley, and more!
Average customer rating:
CCEL Classics CD: works by Saint Augustine, John Calvin, John Donne, Julian of Norwich, Brother Lawrence, Martin Luther, Saint Teresa of Avila, Thomas Aquinas, Thomas a Kempis, John Wesley, and more!
Dr. W. Harry Plantinga
Manufacturer: Christian Classics Ethereal Library
ProductGroup: Book
Binding: CD-ROM

Mariology | Catholicism | Christianity | Religion & Spirituality | Subjects | Books
General | Christianity | Religion & Spirituality | Subjects | Books
Luther, Martin | ( L ) | People, A-Z | Biographies & Memoirs | Subjects | Books
Augustine, Saint | ( A ) | People, A-Z | Biographies & Memoirs | Subjects | Books
ASIN: 1931848076
Release Date: 2006-12-15

Product Description

The most important spiritual writings of Christian history are available on this Classics CD by the Christian Classics Ethereal Library (CCEL) at Calvin College. It contains 118 Christian classics, including three versions of the Bible, several commentaries, Bible dictionaries, readings, spiritual guides, sermons, poems and journals -- all in a convenient, searchable form. Books are available in HTML and PDF formats. The easy-to-use CCEL Desktop software powering the CD enables users to browse and print books and install additional books from the Web. The top-of-class search engine can search for words or phrases in books, in authors works or in the whole library. In addition, it can search for dictionary definitions of words and commentary or references to scripture passages. The interface is a Web browser. The CD is compatible with Windows 2000+, Macintosh 10.3+, and most Linux versions.

How to Study: A Short Introduction (Sage Study Skills Series)

Average customer rating:

How to Study: A Short Introduction (Sage Study Skills Series)
Joan Turner
Manufacturer: Sage Publications Ltd
ProductGroup: Book
Binding: Hardcover

Education | Reference | Business & Investing | Subjects | Books

General | Education | Nonfiction | Subjects | Books

Study Skills | Education | Nonfiction | Subjects | Books

General | Reference | Subjects | Books

Study Guides | Reference | Subjects | Books

General | Education | Professional & Technical | Subjects | Books
ASIN: 0761968075

Book Description

`This book is a must-read for all students trying to grapple their way through and somehow 'finish college'' - Sharada Prahladrao, The Decan Herald

Any student can improve their learning in higher education if they want to, and the aim of this guide is to help them along this route, not by claiming there is only one right way to do things but by building awareness of different approaches, attitudes, and strategies. Key to this is the notion of active learning which is highlighted throughout the book with the acronym ASCERTAIN whose individual letters signal a range of different strategies and attitudes relevant in different contexts.

Throughout, there is an awareness that among the different cultures students participate in, academic culture has its own set of values which academic staff tend to take for granted, but which students may need to have a greater awareness of, and build into their thinking and working.

An introduction to the classics: Containing a short discourse on their excellencies, and directions how to study them to advantage : with an essay on rhetoric, ... and useful editions of the classical writers
Average customer rating:
An introduction to the classics: Containing a short discourse on their excellencies, and directions how to study them to advantage : with an essay on rhetoric, ... and useful editions of the classical writers
Anthony Blackwall
Manufacturer: Printed for Lackington, Allen, and Co.; Longman, Hurst, Rees and Orme; C. Law; B. Crosby; Scatchard and Co. and J. Richardson
ProductGroup: Book
Binding: Unknown Binding
ASIN: B0008AM3AC

Blackwall's introduction to the classics: Containing a short discouse on their excellencies, and directions how to study them to advantage. With an essay on Rhetoric ... and an appendix
Average customer rating:
Blackwall's introduction to the classics: Containing a short discouse on their excellencies, and directions how to study them to advantage. With an essay on Rhetoric ... and an appendix
Anthony Blackwall
Manufacturer: Lackington
ProductGroup: Book
Binding: Unknown Binding

Rhetoric | Words & Language | Reference | Subjects | Books
ASIN: B00088XIQM

Book Description

The first edition of this book was the first text to be written on the Arena software, which is a very popular simulation modeling software. What makes this text the authoritative source on Arena is that it was written by the creators of Arena themselves.

The new third edition follows in the tradition of the successful first and second editions in its tutorial style (via a sequence of carefully crafted examples) and an accessible writing style. The updates include thorough coverage of the new version of the Arena software (Arena 7.01), enhanced support for Excel and Access, and updated examples to reflect the new version of software.

The CD-ROM that accompanies the book contains the Academic version of the Arena software. The software features new capabilities such as model documentation, enhanced plots, file reading and writing, printing and animation symbols.

Customer Reviews:

Poorly Written.......2006-10-25

The book is way too wordy. Who has the time to read on and on to figure out even smallest of the issues like errors after running the compiler to execute the file. I do not know if there are alternatives. I did not have one as my prof highly recommended it for course proceedings. It is a stupid's giude explaining all abc's unnecessarily. This book is a absolute hassle for mini course takers in this subject or learner's on the fly.

Tough to Read - literally.......2005-02-07

While this book does have some useful content from the couple chapters I have read, the material is overshadowed by a serious problem - this is almost not readable in the literal sense.

There is something about the small font size and presentation that makes reading the book tough on the eyes, even with a bright light. I read a lot and this is one of the worst presentations I have seen. The other students in the class who I talked with about this textbook also had the same comment. For a book that charges over $100, this is inexcusable.

Unless you want to wind up with a pair of glasses sooner than you think or get a stronger prescription than you have now, avoid this book.

No Surprises.......2004-11-30

This book achieves its objective. I had not done simulations for years, and this book walks you through the process of learning Arena. It starts out simple--even without actual computer models, just a manual process. It moves through simple high-level, pre-coded models, and then adds complexity. All told, if you work your way through the book, you will understand Arena, a widely used programming language. Note, however, that the student version of the software in this book can only manipulate 15 entities. That's okay for learning, but for real production simulations to answer real questions, then you would need the professional version. That, of course, costs thousands of dollars. Your company would buy this. So, you see where I'm going: if you don't work in an environment that uses Area professionally, all the stuff you learned that is Arena-specific is, well, like memorizing baseball statistics. A nice hobby, but...

This book is better than nothing........2004-10-11

Overall this is a good book, if a bit overpriced and wordy. Let me put it this way, I guess I really wouldn't want to be without this book. On the other hand, I found it frustrating to use when I needed quick answers, as these authors love getting right into the details. For example, when I wanted to add a conveyor to a process I was modeling, there wasn't a simple introduction at the beginning of the conveyer section to provide a quick, adequate overview. The book doesn't use effective formatting to help one quickly find specific things needed (i.e., Entities Entering Along Conveyor; Entity Proceeds if There is Space; Power and Free Conveyor; Synchronous Movement of Entities; Basic Accumulating; Basic Nonaccumulating; Processing on a Conveyor; Selecting Based on Inspection; Varying Entity Sizes on Accumulating; Failures for Conveyors; Two Merging to One; Choosing Alternate Conveyors; Merging Conveyors; Shrinking Parts on a Conveyor; etc.). Though I recommend this book, you may want to supplement it with another one (i.e., such as a "Dummy" type book) for those times when you need simple, fast answers.

Nice book to get started.......2004-01-15

This is a nice book aimed at begineers with lot of nice examples.
The user can start modelling confidently after reading this book and is indispensable for the beginners.A novice can grasp the concepts easily but for an advance learner who is more intrested in integrating VB code less help is available. More emphasis should be laid on the advanced concepts and a short review of commands of SIMAN /CINEMA coupled with some examples would have made this bok truely exceptional.

Simulation with Arena with CD (McGraw-Hill Series in Industrial Engineering and Management)

Average customer rating:

A bit too messy

Simulation with Arena with CD (McGraw-Hill Series in Industrial Engineering and Management)
W. David Kelton
Manufacturer: McGraw-Hill Science/Engineering/Math
ProductGroup: Book
Binding: Hardcover

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Discrete-Event System Simulation, Fourth Edition
Facilities Planning
Simulation Modeling and Analysis with Expertfit Software
Simulation Modeling and Analysis
Introduction to Statistical Quality Control

Accessories:

Schaum's Outline of Operations Research

ASIN: 0073259896

Book Description

This fourth edition of Simulation with Arena has the same goal as the first three editions: to provide a comprehensive treatment of simulation concepts in general and the Arena simulation software in particular. It starts by having the reader develop simple, well-animated, high-level models, and then progresses to advanced modeling and analysis. Statistical design and analysis of simulation experiments is integrated with the modeling chapters, reflecting the joint nature of these activities in good simulation studies. The objective is to help the reader carry out effective simulation modeling, analysis, and projects using the Arena simulation system. An informal, tutorial writing style is used to aid the beginner in fully understanding the ideas and topics presented. Included is a CD containing the current version of the Arena academic software and the examples referenced throughout the text.

Starting with an introduction to simulation concepts, the book progresses through an overview of the Arena software, basic model development, input analysis, additional modeling constructs, output analysis, and advanced modeling. It also includes chapters on integrating Arena simulation models with other applications, specialized statistical issues, continuous simulation, and conducting a successful simulation study. It is intended primarily to be a text in a first course on simulation or for self-study. However, the later chapters could be incorporated into an advanced or graduate-level course.

Building on the success of the first three editions, published in 1998, 2002, and 2004, this edition retains the basic outline and tutorial style, built around a sequence of successively more complicated examples. All the examples and discussion, however, have been modified and updated to be consistent with the current version of the Arena software, and additional examples have been developed, along with more exercises. As before, a password-protected website for instructors provides support in terms of downloadable lecture slides and solutions to end-of-chapter exercises.

The book draws heavily on the experience and expertise of the authors, a professor at the University of Cincinnati specializing in simulation, and two seasoned members of Rockwell Software (formerly Systems Modeling), the developers of Arena, who are active in product design and development, training, consulting, and applications.

Customer Reviews:

A bit too messy.......2007-02-12

This book has been co-authored by a university professor and two Rockwell people. It neither serves its purpose as a "theory" book nor an "applied" book.
It leads you through the process of creating a simulation by using examples.
I would have preferred this to be more of a reference book answering questions such as "If I want to do this what modules should I use?". Instead, when faced with a minor question (e.g. how to count exiting entities with different attributes?) I end up reading half the book and still not find a suitable answer.
The occasionnal jokes are quite funny though!

Average customer rating:

beware - old version
Simulation (with Arena) explained
A powerful and practical tool for operations simulation
Good for novice, ok for concept, buy it if you use Arena
This book is very accessible to the novice in simulation.

Simulation with Arena
W. David Kelton , Randall P Sadowski , and David T Sturrock
Manufacturer: McGraw-Hill Science/Engineering/Math
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Discrete-Event System Simulation, Fourth Edition
Probability and Statistics for Engineering and the Sciences (with Student Suite Online)

ASIN: 0072856947

Book Description

The new third edition follows in the tradition of the successful first and second editions in its tutorial style (via a sequence of carefully crafted examples) and an accessible writing style. The updates include thorough coverage of the new version of the Arena software (Arena 7.01), enhanced support for Excel and Access, a new array editor, and updated examples to reflect the new version of software.

The CD-ROM that accompanies the book contains the academic version of the recent Arena software. The software features new capabilities such as, model documentation, enhanced plots, file reading and writing, printing and animation symbols.

Customer Reviews:

beware - old version.......2001-04-12

The newest version of Arena is 5.0 . This book teaches based on the version 3.0.

Simulation (with Arena) explained.......2000-04-24

This book is a good introduction to the field of discrete event simulation and the simulation language Arena in special. The first chapter of the book about the history of simulation the generic use of it and some future use. The second chapter handles basic concepts of simulation as content of a simulation model, events and randomness. In the rest of the book the discrete event simulation language Arena is explained as a sort of tutorial, using easy to understand practical examples. Although I reckon myself as a simulation expert I still use this book regular, thanks to the appendixes in which technical stuff as probability, statistics and distributions is explained, focused on the use in Arena, but also applicable for other simulation languages.

A powerful and practical tool for operations simulation.......1999-08-26

Arena is a powerful, user-friendly tool that is capable of handling a wide range of problems in business. I've found it particularly applicable to problems in telecommunications. Queueing theory is nice, but it seldom applies to many of our real-world problems. Simulations do, and Arena is one of the best. The text, examples, and exercises provide an interesting and information way to jump start you to productive simulations. Don't come here for sound simulation theory, though. This is for the practical user, but not for the student of operations research.

Good for novice, ok for concept, buy it if you use Arena.......1999-03-29

I think System Modeling should ship this book with their software (I don't know, just use Arena in school and never bought it yet). This book is self-explaination. Tutorial is great. Easy to walk-through or jump to each chapter if you want to. If you are "or" will be using Arena, get this book. You won't regret it. Don't forget to check another book of Kelton. That book will take you to more detail of what simulation is.

This book is very accessible to the novice in simulation........1998-04-03

This book when compared with others on the subject of simulation, thrusts this very powerful tool into the hands of the user. It's conversational tone provides the reader a soothing and non threathing challenge.

Simulation Modeling and Analysis with ARENA

Average customer rating:

Simulation Modeling and Analysis with ARENA
Tayfur Altiok , and Benjamin Melamed
Manufacturer: Academic Press
ProductGroup: Book
Binding: Hardcover

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Applied Simulation Modeling (with CD-ROM) (Duxbury Applied Series)
Simulation with Arena with CD (McGraw-Hill Series in Industrial Engineering and Management)

ASIN: 0123705231

Book Description

Simulation Modeling and Analysis with Arena is a highly readable textbook which treats the essentials of the Monte Carlo discrete-event simulation methodology, and does so in the context of a popular Arena simulation environment. It treats simulation modeling as an in-vitro laboratory that facilitates the understanding of complex systems and experimentation with what-if scenarios in order to estimate their performance metrics. The book contains chapters on the simulation modeling methodology and the underpinnings of discrete-event systems, as well as the relevant underlying probability, statistics, stochastic processes, input analysis, model validation and output analysis. All simulation-related concepts are illustrated in numerous Arena examples, encompassing production lines, manufacturing and inventory systems, transportation systems, and computer information systems in networked settings.

· Introduces the concept of discrete event Monte Carlo simulation, the most commonly used methodology for modeling and analysis of complex systems
· Covers essential workings of the popular animated simulation language, ARENA, including set-up, design parameters, input data, and output analysis, along with a wide variety of sample model applications from production lines to transportation systems
· Reviews elements of statistics, probability, and stochastic processes relevant to simulation modeling
* Ample end-of-chapter problems and full Solutions Manual
* Includes CD with sample ARENA modeling programs

Average customer rating:

Simulation with Arena
W.David Kelton
Manufacturer: McGraw Hill Higher Education
ProductGroup: Book
Binding: Paperback

Simulation with Arena (Mcgraw-Hill Series in Industrial Engineering and Management Science)

Average customer rating:

Disappointed
Excellent introduction to Arena requiring supplement
Good book, but VERY LIMITED software.
Not bad, not great
Learn SIMAN too

Simulation with Arena (Mcgraw-Hill Series in Industrial Engineering and Management Science)
David W. Kelton , Randall Sadowski , and Deborah Sadowski
Manufacturer: McGraw-Hill Publishing Co.
ProductGroup: Book
Binding: Paperback

General | Software | Computers & Internet | Subjects | Books

Simulation Modeling and Analysis

ASIN: 0071131248

Book Description

This book was the first text to be written on the Arena software, which is a very popular simulation modeling software. What makes this text the authoritative source on Arena is that it was written by the Creators of Arena themselves.

The new edition follows in the tradition of the successful first edition in its tutorial style (via a sequence of carefully crafted examples) and an accessible writing style. The updates include thorough coverage of the new version of the Arena software (Arena 4.0), a revised statistical-analysis material, and additional exercises and examples.

The CD-ROM that accompanies the book contains the Academic version of the Arena software, which features a completely new reporting environment!

Customer Reviews:

Disappointed.......2003-04-11

This book doesn't provide any good examples.
The description of those models are BAD.
Author suppose that every readers are already familiar with
all the functions of arena?

Author doesn't explain many modeling trickys clearly.

To be frankly, I am disappointed.

Excellent introduction to Arena requiring supplement.......2003-01-22

I used this book in 2 grad courses on simulation (one with Dr. Kelton himself!).

This is an outstanding book on the basics of the Arena simulation s/w. The explanations are detailed with screen-shots, etc. to clarify topics. The examples, specially the introductory ones, are excellent illustrations of simulation concepts in the Arena envioronment. The student version of the Arena s/w {version 5} is provided and more than sufficient for learning purposes. Also, the CD includes most of the example problems from the text & can be refered to when in trouble. Arena also has SMART files that are more complex examples illustrating various capabilities and these are very good for reference. The Arena online help is also quite comprehensive too. A big advantage of this book is explanations on building animations of the simulation model. Other books don't offer as good and simple coverage as this one does.

Some of the advanced material and concepts, however, are not explained in as much detail as the earlier chapters. The authors are not to be blamed entirely though; many of these models/examples are fairly elaborate and complete enumeration of details is difficult. However, I would have liked more comprehensive explanations on some features of Arena like: Transporters (this book covers only one type of transporter available in Arena; transporters are accurately explained in an older and out of print book); using VBA for automation of some features {this is very useful to make the simulation read i/p from a spreadsheet or text file}- the authors assume this will be picked up by users themselves, etc. Arena uses the SIMAN language as its engine for simulation. Siman has many, many blocks with more advanced options and features that are not explained here & this is the biggest drawback of the book. For modeling complex systems, I often use these lower level blocks and explanations of these blocks and features are comprehensive in "Introduction to Simulation Using SIMAN" by Pegden et al. In fact, with pretty good familiarity of the Arena envioronment, I use this Siman book a lot more nowdays. Only in animation building is the Siman book insufficient.

It is very important to note that this book is a refernce on simulation using Arena, NOT simulation concepts as a whole (these are covered briefly too); for simulation concepts and overviews, I recommend "Simulation Modeling and Analysis" by Law & Kelton as well as "Discrete Event System Simulation" by Banks, et al.

Let me end with this note: Dr. Kelton used material from this book in his introduction to Arena, so it'll be like learing in class itself. I would consider the Pegden book as a replacement or supplement to this one though.

Good book, but VERY LIMITED software........2002-11-14

What you get for your money: a book on version 5 of Arena and a CD with the student version of the software.
The book is a good introduction to the topic of discrete event system simulation, although if this is your only interest you'll get better value buying A. Law's book or Jerry Banks's book (also available at Amazon).
After introducing the basic concepts in simulation, the book turns into a tutorial in the use of Arena. This is basically a good thing, but you'll find that there are so stringent limitations in the software provided, that some of the examples cannot be completed. This did not happen wiht version 3 (1998 edition). So what is the purpose?
Selling THIS book is a way of whetting your appetite for buying the software. If you are looking for information on simulation you can buy Law's book or Jerry Banks's book, if you are looking for software go directly to the manufacturer of Arena (Rockwell software) or other software manufacturers and find out in their web site. Version 3 was also limited but you could follow the examples with the software provided. Save your money on this book -- don't buy it.

Not bad, not great.......2002-10-23

The book on arena is an excellent primer on simulation, but some of the higher level arena examples are not very clear.

I would recommend it to someone new in the field, or taking a class. However, this is not as good as other how-to programming books out there ...

Learn SIMAN too.......2002-10-08

It is really good book for learning Arena. I am referring to the latest edition which teaches ARENA 5.0. The old book taught ARENA 3.5 which is kinda outdated now. But the basics are the same except that the software details are different. If possible get the new book or if you are comfortable in using new softwares you can buy the old book and adjust to ARENA 5.0.

It is well organised and explains all the concepts of discrete event simulation very clearly. The only part I am not satisfied is the transporters chapter. These are explained very well in Shannon and Sadowski "Intoduction to Simulation using SIMAN". They have very good chapters on guided and unguided transporters which are very necessary to simulation of flexible manufacturing systems. I had to simulate a bus transportation system and the ARENA book could not expalin how to use transporters. Actually if you learn SIMAN it would be more useful than learning ARENA. SIMAN is the language beneath ARENA interface and it is low level. You can have more control on the simulation with SIMAN. But some things are done easy with ARENA. So I strongly recommend reading the fundamentals with the ARENA book. And learn the fundas of basic blocks from SIMAN book.

Dont forget to participate in teh simulation contest conducted by Rockwell software(ARENA) every year at IIE conference. Dr. Sadowski is incharge of this contest and the problems are very challenging. I know I wrote much more than the book itself. Hope its useful. :-)

Simulation with Arena, HC, 1998, with CD
Average customer rating:
Simulation with Arena, HC, 1998, with CD
Kelton
Manufacturer: McGraw Hill
ProductGroup: Book
Binding: Hardcover
ASIN: B000LSJPWA

Simulation with Arena - NO CD, Textbook Only
Average customer rating:
Simulation with Arena - NO CD, Textbook Only

Manufacturer: Mc-Graw Hill
ProductGroup: Book
Binding: Hardcover
ASIN: B000FXSSAQ

Average customer rating:
Simulation With Arena
W. David; Kelton, David; Sadowski, Randall P.; Sturrock, David T. Kelton
Manufacturer: McGraw-Hill Science/Engineering/Math
ProductGroup: Book
Binding: Paperback
ASIN: B000OGGLGM

Average customer rating:
Simulation With Arena
W. David Kelton
Manufacturer: McGraw-Hill Science/Engineering/Math
ProductGroup: Book
Binding: Paperback
ASIN: B000OGKC7G

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