…Monte Carlo simulations use random data to simulate inputs into a process.…So, you need to create a list of input data.…In this movie, I'll show you how to create a data source for your simulation.…As my sample file, I'll use the input table sample workbook which…you can find in the chapter four folder of your exercise files archive.…The trick behind convincing Excel to run a simulation multiple times is to…create a two input data table like we did elsewhere in this course.…I'll create that data table at the bottom…of the worksheet starting just below cell A15.…
That will be part of the data table later,…but I'm going to work below it for the moment.…For this simulation I want to have 100 trials per run…so I need to build a data table with 100 rows.…I'll click in cell A17 and type the number one.…And then I'll click cell one and drag the Fill handle at the…bottom right corner of the cell down until I get to cell A116.…There we go.…And it's currently just repeating the number one so I'll hold down the CTL key.…
- Explain how to create a scenario in Excel.
- Identify the two input values that should be used to create a two variable data table.
- Recall what the Excel feature Goal Seek is used for.
- Recognize the three things that must be separated from one another to make reading a worksheet with multiple units easier.
- Describe the tools that Excel provides to manipulate data.
- Break down the steps required to recalculate a worksheet's formulas.
Skill Level Intermediate
1. Defining Scenarios and Data Tables
2. Creating Goal Seek and Solver Models
3. Creating a Configurable Model
4. Performing Monte Carlo Simulation
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