Hi all,
I've been racking my non-statistical brain on my Excel simulation (monte carlo sim predicts profit). I have created the model and as I review the outputs, I'm not confident that it's correct. With that said, is there anyone who could review it and let me know if you see any obvious mistakes? Given I'm a biologist, you could guess my model is quite simplistic so nothing crazy going on here.
I have a couple of static inputs and a handful of random variables that are tied to simple frequency tables. I use Excel's data table to run 10,000 simulations and then summary stats finish it off along with a relative frequency table/plot. (I hope I'm using the proper terms here!).
Anyway, if anyone would like to take a peek at what I created to see if there are any obvious goof-ups, I can share the file.
Thank you for your consideration.
I've been racking my non-statistical brain on my Excel simulation (monte carlo sim predicts profit). I have created the model and as I review the outputs, I'm not confident that it's correct. With that said, is there anyone who could review it and let me know if you see any obvious mistakes? Given I'm a biologist, you could guess my model is quite simplistic so nothing crazy going on here.
I have a couple of static inputs and a handful of random variables that are tied to simple frequency tables. I use Excel's data table to run 10,000 simulations and then summary stats finish it off along with a relative frequency table/plot. (I hope I'm using the proper terms here!).
Anyway, if anyone would like to take a peek at what I created to see if there are any obvious goof-ups, I can share the file.
Thank you for your consideration.