This workshop is about understanding what is behind the Monte Carlo Simulation. First, you will find out who is using simulations and for what purposes (risk analysis, operations, investments.) The next part is about having fun applying simulations - rolling dice on a spreadsheet. Once you understand how it is done, we can go into a couple of projects. One project is when we simulate a four years budget for 200 times (800 years.) The workshop will have other examples of Monte Carlo simulations.
WHY SHOULD YOU ATTEND?
Excel users that would like to learn how to use risk simulations. User should have elementary understanding of statistics and intermediate Excel skills. This workshop was taught by the presenter in the executive MBA programs, where the attendees did not have a statistical background.
- Learn how to generate random numbers.
- Practice using the random number generation for different distributions (Uniform, Normal, Discrete and more.
- Learn how to apply simulations.
LEARNING OBJECTIVES
- Random numbers generation.
- Rolling Dice using Excel.
- Simulation risk profiles of long-term capital investments.
- Practice problems and solutions.
WHO WILL BENEFIT?
- Finance
- Statistics
- Risk managers
Excel users that would like to learn how to use risk simulations. User should have elementary understanding of statistics and intermediate Excel skills. This workshop was taught by the presenter in the executive MBA programs, where the attendees did not have a statistical background.
- Learn how to generate random numbers.
- Practice using the random number generation for different distributions (Uniform, Normal, Discrete and more.
- Learn how to apply simulations.
- Random numbers generation.
- Rolling Dice using Excel.
- Simulation risk profiles of long-term capital investments.
- Practice problems and solutions.
- Finance
- Statistics
- Risk managers
