Although Excel contains only a handful of (inverse cumulative) probability distribution functions that allow distributions to be sampled directly, in fact it is easy to create samples of around 20 distributions using simple Excel formulae and (simple) VBA code in some cases.
Archives for September 2015
One of the challenges in trying to introduce risk-based decision-making into organisational processes is to find evidence that they actually work. This is harder than it might first appear.
My latest book is now published: Business Risk and Simulation Modelling in Practice using Excel, VBA and @RISK is available in the UK (on amazon), although not yet launched in the US.