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Learn how to create a Monti Carlo Simulation In Excel:
1) (00:12) Introduction to what we will cover in this chapter.
2) (00:53) Models with Set / Static Variables. Compare and contrast how these models are different that Mote Carlo Simulation Models that contain Random / Uncertain Variables.
3) (03:48) Mote Carlo Simulation Models that contain Random / Uncertain Variables
4) (04:10) Random / Uncertain Variables based on past data based Relative Frequency Distributions (Probability Distributions)
5) (06:07) Excel Formula to create Continuous, Uniform Random / Uncertain Variable using RANDBETWEEN Function.
6) (08:36) Create Simulation using Excel Data Table feature and an empty cell for the Column Input required for the Data Table.
7) (14:37) Create Summary Statistics such as Mean, Standard Deviation, Min, Max (using AVERAGE, STDEV.S, MIN, MAX functions), and a Relative Frequency using the FREQUENCY Array Function.
8) (20:23) Analyze Simulation Data.
9) (21:26) Review What a Mote Carlo Simulation is and What the steps are to create a simulation in Excel.
How does Data Table with Empty Cell work? Here:
Data Table is a feature that copies many formulas down by substituting in a new input from the column based on a cell that is a formula input into the formula. Because the cell is an "Empty Cell" that is NOT a formula input in the formula being copied, Data Table tries to make a substitution, but it can't, and therefore it just copies formula down. Because it is a randomizing formula, every time it gets copied down a row, it randomizes. If you need to be reminded about how the Data Table feature works, see my earlier videos in this class here:
• Basic Excel Business A...
and
• Basic Excel Business A...
Download Excel File Not: After clicking on link, Use Ctrl + F (Find) and search for “Highline BI 348 Class” or for the file name as seen at the beginning of the video.