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Perform Monte Carlo simulation

Perform Monte Carlo simulation: Excel Statistics Essential Training: 2 (2016)
Perform Monte Carlo simulation: Excel Statistics Essential Training: 2 (2016)

A process might contain randomness, making it impossible to predict its outcome with certainty. Instead, you can simulate the process. To do this, you have to simulate the randomness, which is what Monte Carlo simulation does. The Excel AnalysisTool Pak Random Number Generation tool is perfect for creating Monte Carlo simulations. Joe shows you how to use this tool to create simulations that use the Discrete distribution. You'll then be able to simulate a variety of processes.

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Skill Level Beginner
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