This note gives step by step directions on the best way to build a Monte Carlo simulation model in Microsoft Excel without using spreadsheet add ins. The note explains the difference between "arbitrary" and "uniformly spread."
Monte Carlo Simulation in Excel Without Using Add-ins Case Study Solution
The note also describes: how the Excel function RAND() operates, the way to use Excel functions like NORMINV() to mimic random numbers from distributions besides the uniform; the best way to use VLOOKUP() with tabulation of data to reproduce numbers from any arbitrary distribution, and how to use Data Tables to manufacture multiple iterations of a simulation model. The note conclude with an example that illustrate the use of each of these theories.
PUBLICATION DATE: April 20, 2009 PRODUCT #: 909E04-PDF-ENG
This is just an excerpt. This case is about TECHNOLOGY & OPERATIONS
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