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One type of spreadsheet simulation is Monte Carlo simulation, which randomly generates values for uncertain variables over and over to simulate a system. Monte Carlo simulations are a means of solving a numerical problem that cannot easily be solved by means such as integral calculus or other numerical methods. A Monte Carlo simulation involves using many iterations of random inputs to determine a set of outputs. Due to the nature of the number of calculations and repetitive algorithms Monte Carlo is a method well suited to computer simulations.
The macro allows up to five input variables to be adjusted in a single run. The user is able to set the type of distribution for each input as well as the expected mean and the standard deviation, or min and max for a uniform distribution.
The output includes the statistical data on mean, median, standard deviation, standard error, variance, skewness, and kurtosis as well as a graphical representation of the results so that the user can see visually the shape of the out distribution. One new sheet has been added to the model as part of this work.
Tags: GHGenius 3.5 - Manual - Monte Carlo