general purpose spreadsheet which is widely used & understood, but rarely
used by itself for simulations. However, the
Data Table function in MS Excel can be used to execute substantial simulations,
without requiring cumbersome programming "tricks" or VBA coding.
The result is an arbitrarily large results table in which each row is one
iteration of the simulation, and each column is a random variable generated in
The attached presentation is an introduction to doing simulation in MS Excel, using the Data Table function, covering:
* The basic method;
* Using inverse probability functions for validation, verification, and insight
* Some basic macros for setting up
* VBA code for some missing probability functions
* Examples (from clinical trials)
* Advantages, Disadvantages, and Limitations
* Additional Resources
(1) A power point tutorial on implementing basic simulations in Excel
(2) A presentation introducing the concept of Probability Management
(3) A presentation with some notes about non-introductory topics, such as validation, verification and sensitivity. (4) An Excel spreadsheet template containing macros which ease writing simulations, some missing probability functions written in VBA, and examples.
(5) Another Excel spreadsheet that contains a sampler of simulation functions, with a plot overlaying all random variables.