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Risk Solver Add In Download Manager AdvancedRisk Solver Add In Mac Mac MostRisk Solver Add In Full Specifications WhatsFull Specifications Whats new in version 6.0 General Release November 8, 2008 Date Added January 26, 2005 Version 6.0 Operating Systems Operating Systems Windows 95, Windows 2000, Windows 98, Windows Me, Windows, Windows XP, Windows NT Additional Requirements Windows 9598MeNT2000XP, Microsoft Excel 97 Popularity Total Downloads 47,945 Downloads Last Week 3 Report Software Related Software Microsoft Office Compatibility Pack for Word, Excel, and PowerPoint File Formats Free Open, edit, and save files using the new file formats in 2007 versions of Word, Excel, and PowerPoint. For scientists, engineers, statisticians, managers, investors, and others, computers have made it possible to create models that simulate reality and aid in making predictions. One of the methods for simulating real systems is the ability to take into account randomness by investigating hundreds of thousands of different scenarios. In the science and engineering communities, MC simulation is often used for uncertainty analysis, optimization, and reliability-based design. In manufacturing, MC methods are used to help allocate tolerances in order to reduce cost. There are certainly other fields that employ MC methods, and there are also times when MC is not practical (for extremely large problems, computer speed is still an issue). However, MC continues to gain popularity, and is often used as a benchmark for evaluating other statistical methods. This article will guide you through the process of performing a Monte Carlo simulation using Microsoft Excel. Although Excel will not always be the best place to run a scientific simulation, the basics are easily explained with just a few simple examples. If you frequently use Excel for modeling, whether for engineering design or financial analysis, I highly suggest one of the Excel add-ins listed below. The popularity of Monte Carlo methods have led to a number of superb commercial tools. The programs listed below work directly with Excel as add-ins. Crystal Ball and Risk are the two most popular and are very high quality (which you would expect from the price). Risk Solver is an amazing new add-in created by the makers of the famous Excel Solver add-in. Risk Solver runs at lightning speed and certainly rivals Crystal Ball and Risk. Meredith, Scott M. Shafer, Sutton, Margaret Sutton, Jr., Samuel J. Microsoft and Microsoft Excel and Microsoft Word are registered trademarks of Microsoft Corporation. Vertex42.com is not associated with Microsoft.
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