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Doesn't that give me an average of the possibilities? I dont think people are usually looking for that... they usually want to specific cases, or graphs. both a
by xerophtye 13y ago
Doesn't that give me an average of the possibilities? I dont think people are usually looking for that... they usually want to specific cases, or graphs. both are very well supported in excel.
PS: I think excel probably has some support for monte carlo too. should look into it.
- yummyfajitas 13y agoThe output of a monte carlo simulation is a list of N (for N really large) of possible futures. You can average them, you can compute P(business makes a profit), you can do whatever you want with it. If you want graphs you can spit out not just one, but multiple representative ones, credible intervals, etc.