All articles with 'simulation' Tag
One of the most dreaded courses during my under-graduation is Probability, Statistics & Queuing Theory. We called it PSQT. I struggled to understand the significance and concept of this course as I could barely concentrate in the class. We had a professor, who is probably a genius, but the moment he started the class, I would magically fall in to one of my after-noon naps. When I woke up, we are either in the middle of an elaborate t-test or going thru intricacies of a Markovian queue.
This was all 11 years ago. Later in life, I have embraced the world of probability & statistics. I still fear queues. May be I will get there one day. 😉
A good understanding of statistics & probability theory is necessary if you want to model complex real-life problems using Excel or similar tools. Naturally, Excel has several functions, features & supported add-ins to help you in this area.
Today, I want to share some of this with you. This article is broken down in to 3 parts.
- Learning Statistics & Probability using Excel
- Downloadable Excel Workbooks to understand
- Full blown models & simulations in Excel
Maintenance on the 18 month old, Data Tables, Monte-Carlo Simulations and Fractals in Excel – A Comprehensive Guide has been completed.Continue »
Few months ago, we learned how to create a project valuation model in Excel as part of our series on Financial Modeling in Excel.
My Project Evaluation Model had a limitation!! In one of the personal comments that I received, the reader pointed out an important problem!Continue »
If anybody asks me what is the best function in excel I am drawn between Sumproduct and Data Tables, Both make handling large amounts of data a breeze, the only thing missing is the Spandex Pants and Red Cape!
How often have you thought of or been asked “I’d like to know what our profit would be for a number of values of an input variable” or “Can I have a graph of Profit vs Cost”
This post is going to detail the use of the Data Table function within Excel, which can help you answer that question and then so so much more.Continue »
Ever since we moved to Seattle we have been watching TV game show – Deal or No Deal (for lack of better things to do in the hotel) The game provides an interesting look at human nature and risk taking abilities. People who wouldn’t risk their retirement savings or jobs would go to these game […]Continue »
If you ever had to simulate random outcomes in excel sheet, you might have already heard of about the spreadsheet function rand(), this little function generates a random fraction between 0 and 1 whenever you use it. So I usually write =round(rand()*12,0)int(rand()*12)+1 if I need a random number between 0 to 12. Of course, if […]Continue »
Here is a simple piece of advice to literally everyone who is working: do NOT touch your Provident Fund, no matter what. Provident fund (commonly known as PF, EPF) is a retirement benefit facility provided to Indian employees by their employers of companies that have more than 20 employees. The option is applicable for practically […]Continue »