Normalalized Distribution Advice

M

Matt

Here's my problem: I'm trying to figure out how to randomize a set of data, but to do so along a normal distribution. For instance, if I have a set of 100 factories and I want to model their potential output, is there a way to set this output along a normal distribution (and not have it be purely random)? Any help is greatly appreciated.
 
M

Michael R Middleton

Matt -
Here's my problem: I'm trying to figure out how to randomize a set of
Click to expand...
data, but to do so along a normal distribution. For instance, if I have a
set of 100 factories and I want to model their potential output, is there a
way to set this output along a normal distribution (and not have it be
purely random)? Any help is greatly appreciated. <

Simplest method is =NORMINV(RAND(),mean,stdev), with the caveat that
pre-2003 versions of these two worksheet functions are numerically inferior.

Commercial add-ins for Monte Carlo simulation include Crystal Ball
(www.crystalball.com) and @RISK (www.palisade.com). Trial version of RiskSim
(which also avoids numerical inaccuracies) is available for download from
www.treeplan.com.

- Mike Middleton
 
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