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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