##### Monte-Carlo
How to use BF"s no-frills Monte-Carlo Simulator
Business Functions contains a basic but powerful Monte Carlo simulation system comprising:
• Monte-Carlo probability functions in the Monte Carlo family. A very useful and simple function called Distribution is the best bet for specifying variables as it handles several distributions. You can also use the distribution functions in Excel too, such as Normal or GammaDist. Look also at PartialDependency for partially dependent variables, DistCumulative for a cumulative probability distribution and DiscreteOutcome for a discrete outcome distribution.
• A Monte-Carlo simulation tool on the menu. This script based tool allows you to run and store all Monte-Carlo variables and calculate means, percentiles etc. There is no graphic output from Monte-Carlo - this is something we think you are better placed to do, if you so wish. (There are other proprietary Monte-Carlo products on the market that provide excellent graphical output.)

The best way to see how Monte-Carlo works is to look at the Monte Carlo example from the Examples menu.

Monte-Carlo Syntax
• Each Monte-Carlo simulation requires a worksheet dedicated to it
• The Monte Carlo script starts in cell A1.

Column 1Column 2Column 3 and beyond
> Comment
INPUTPASSESNumber of Simulation Passes
SEEDThe Random Number Seed (Optional)
VARIABLESAny number of output variables, as cell references or formulae
CONDITIONSAny number of TRUE/FALSE formulae or references to formulae. If any condition is FALSE, the simulation pass is resampled
SHEETSheetName (optional, if omitted or "ALL" all workbooks will be recalculated on each simulation
SHEETSList of SheetNames in cells 3,4,5 etc (optional, if omitted or "ALL" in cell 2 all workbooks will be recalculated on each simulation
OUTPUT
MEAN
MEDIAN
MINIMUM
MAXIMUM
VARIANCE
STANDARD DEVIATION
PERCnn (PERC00=0% percentile, PERC100=100% percentile)
HISTxx-yy (HIST 0-10 = hits between 0 and 10, HIST 200-300 = hist between 200 and 300 (Note: for more than output variable where the quantum of the results is different, HISTxx is a bit problematic, we are looking at alternative methods of creating the frequency histogram).
RESULTS
Results for each variable listed down the page

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