Monte Carlo Methods in Excel: Part 4 – The Triangle Distribution
Nov 15, 2017
A mathematician friend of mine worked for the Navy on calculations involving the movement of sound waves through water. It’s a difficult problem, since the speed of sound varies with temperature and salinity. Being a mathematician to the core, he always wanted the exact answer. At times the Navy had to shake him by the […]
Monte Carlo Methods in Excel: Part 3 – Some Helpful Tricks
Nov 14, 2017
Monte Carlo Methods in Excel: Part 3 – Some Helpful Tricks Andea S. , a student in Learning Tree’s course Power Excel: Analyzing Data to Make Business Decisions, expressed dismay about a problem at work. When she attempted to plot the results of her Monte Carlo inventory and production model, her entire set of model […]
Monte Carlo Methods in Excel: Part 2 – Random Numbers
Nov 9, 2017
Monte Carlo Methods in Excel: Part 2 – Random Numbers All Monte Carlo methods rely on a source of random numbers. Most such sources would more precisely be called pseudorandom numbers, since a deterministic algorithm cannot, by definition, ever produce truly random numbers. If you Google “random numbers” you will encounter a daunting list of […]
