This video demonstrates a basic Monte Carlo simulation using Simulation Master. Simulation Master is an Excel add-in for Monte Carlo simulation. For more information, please visit the Simulation Master product page.
Basic Monte Carlo Simulation Topics
Random variable function set-up in Excel model
Using the Simulation Master “RV” worksheet functions to create random variables used to generate random variable values during the simulation.
Coloring model inputs for easy identification
Simulation Master has a tool that identifies “RV” worksheet functions that are random variable inputs and will color them green with one click.
Running the simulation
How to enter simulation parameters and run the simulation.
Probability analysis of simulation results
Analyzing the probability of a range of outcomes using the probability analysis tool.
Creating a summary report
How to create a summary report that contains summary statistics, histogram, frequency polygon, and cumulative frequency chart.
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