100 Excel Simulations by Gerard Verschuuren

100 Excel Simulations by Gerard Verschuuren

Author:Gerard Verschuuren
Language: eng
Format: epub
Tags: Excel;Gambling;Genetics;Monte Carlo Analysis
Publisher: Holy Macro! Books
Published: 2016-09-11T16:00:00+00:00


Chapter 57 Uncertainties in Sales

What the simulation does

Open file 6-MonteCarlo.xlsx on sheet “SalesRisks.” Monte Carlo simulations are computerized mathematical techniques that allow people to account for risks in quantitative analysis and decision making.

In this case, the decision-maker supplies sales data and probabilities (the yellow cells in columns A and B).

Based on this information, we simulate distributions with a range of possible outcomes (center section) and the probabilities they will occur for any choice of action (right section).



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