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See also: Useful Excel functions, ModelRisk functions and windows
Example models explaining VoseFunctions
DistributionObjectProperties.xls
Extremes.xls
VoseAggregateTranche.xls
VoseBinomialP.xls
VoseCholesky.xls
VoseCLTSum.xls
VoseCopula_Correlating
_With_copulas.xls
VoseCopulaData.xls
VoseCorrmat.xls
VoseCovCorr.xls
VoseDescription_And
_VoseParameters.xls
VoseDominance.xls
VoseEigenVectors.xls
VoseExpression.xls
VoseFrequency.xls
VoseFrequencyCumulA.xls
VoseFrequencyCumulD.xls
VoseIdentity.xls
VoseIntegrate.xls
VoseInterpolate.xls
VosejkProduct.xls
VosejkSum.xls
VosejProduct.xls
VosejSum.xls
VosejSumInf.xls
VoseKendallsTau.xls
VoseKendallsTau_and
_VoseSpearman.xls
VoseLLH.xls
VoseMeanExcessP_and_
VoseMeanExcessX.xls
VoseNBoot
_Bootstrap_Properties.xls
VosePoissonLambda.xls
VosePrinciple
_Principle_calculations.xls
VoseRankA.xls
VoseRankD.xls
VoseRollingStats.xls
VoseRunoff.xls
VoseSample.xls
VoseShift_VosePBounds
_and_VoseXBounds.xls
VoseShuffle.xls
VoseSortA.xls
VoseSortD.xls
VoseStopSum.xls
VoseThielU.xls
VoseValidCorrmat.xls
We offer a large number of example models (constructed in ModelRisk/Excel) that you can view and use as you see fit. The models cover an enormous range of techniques.
To open an example model,
click the link marked with the '
' icon.
If you are presented a dialog similar to the one shown below, select 'open':

Important: it can occur in Windows XP that example model files open within this help file's window rather than in Microsoft Excel. To change this behavior, follow these instructions to set model files to open in Excel.
Apart from the models listed below, a number of example models explaining specific ModelRisk functions are provided. These are listed on the right and linked to from that function's topic (e.g. VoseEigenValues).
On your hard drive, the example model files are located in the Models subfolder of your ModelRisk folder (usually this is c:\Program Files\Vose Software\ModelRisk\Models).
The table below lists the example models included. All models are unprotected to allow you to use the code for your own problems.
When making use of these example models, we would consider it a kindness if you were to reference Help file for ModelRisk in papers and reports.
See the References topic for guidelines on referencing.
Model name Topic link |
Techniques used |
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Optimization, Copulas |
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Optimization example |
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Directly calculating the moments of an aggregate distribution Checking the accuracy of the Panjer or FFT aggregate algorithm |
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Loan default Loss model |
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Sum of random number of random variables Output statistics generation in spreadsheet Calculation of risk budget |
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Modeling correlated (cascading) risks Modeling risk events |
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Exercise in building a dynamic array |
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Combining opinions of different experts |
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Exercise in building a dynamic array |
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Contagious extreme value model and comparison with simulation |
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Number of errors to achieve a success Sum of resources expended to achieve success |
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Loss distribution for a number of policies with correlated aggregate loss distributions |
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modeling correlated risks |
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modeling two correlated variables using the envelope method |
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A very simple project cost model |
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Calculates the approximate sum of correlated random variables using a covariance matrix. |
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Modeling credit risk for a single portfolio |
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modeling credit risk with separate exposure and loss fraction components |
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Two ways of determining the distance between an individual and its nearest, or next nearest, etc. neighbour. |
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Constructing a Dirichlet distribution |
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A classical statistics method of estimating the mean and the standard deviation for Normal distribution when neither are known. |
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A classical statistics method of estimating the mean for Normal distribution when the distributions standard deviation is known |
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A classical statistics method of estimating the standard deviation of a Normal distribution when the distributions mean is known. |
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Calculate the total worth of a retirement fund upon retirement. |
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Forecasting sales over time to a finite market. |
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Generating a Frechet distribution |
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Number of samples required in a random sampling of a population to obtain a particular minimum set. |
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Simple project duration model |
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Adding correlation in aggregate calculations Correlating partial sums |
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Adding correlation in aggregate calculations Correlating partial sums using scaling variables |
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Illustrating an incorrect way to use the Beta distribution to model variability in a Binomial probability |
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Sum of random number of random variables Insurance Hedging |
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Comparing uncertain quantities |
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Model a time series based on a relationship with a leading indicator variable |
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Reliability of a set of components |
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Modeling a Markov time series with time an integer > 1 unit with ModelRisk |
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Progressive dominance of the default state in a Markov time series |
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Exercise to allow you to try out various modeling techniques |
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Multinomial method of performing a Markov Chain model |
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Multinomial method of performing a Markov Chain model with time an integer > 1 unit |
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Bayesian inference, estimating MTTF |
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Construct a Multivariate Hypergeometric distribution |
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Model sales where market is divided with new entry competitors. |
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Exercise to allow you to try out various modeling techniques |
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Capital allocation to cover operational risk under Basel II. |
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Determination of extreme values for 10 000 independent random variables drawn from a Pareto(5,2) distribution. |
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Calculating (rather than simulating) the probability that a sum of random variables exceeds some target |
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Poisson process with time log Sum of random number of random variables Insurance claim size |
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Poisson random walk with trend |
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Forecasting Poisson sales with new competitor entering the market. |
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Poisson random walk with trend and seasonality |
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Pólya regression model fitted to data and projected three years into the future. |
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Similar to Poisson
series but with randomness in the expected
intensity |
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Calculating the premium of an insurance policy using four different principles |
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modeling continuous random process |
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Estimating combined risk from several risk events Probability of exceeding some threshold |
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Typical project schedule model
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Project schedule model Schedule risk modeled as additional duration |
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Project schedule model Schedule risk modeled as alternative duration |
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Time series with cyclical shock |
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Exercise to allow you to try out various modeling techniques |
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Exercise to allow you to try out various modeling techniques |
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Real option evaluation |
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modeling impact of correlated risks VoseRiskEvent function |
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Using triangle distributions to estimate project cost |
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Run-off calculation |
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Run-off calculation |
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Run-off calculation |
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Modeling sales where there is an uncertain maximum to the number of sales |
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Summing large random number of random variables using Central Limit Theorem |
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Model the sales over a period where it is known that there is a finite market for the product. |
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Project schedule modeling with risks |
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Simple project duration model |
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Two ways of simulating a risk event with a random impact |
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Model to determine the probability that stress on a component exceeds its strength, and therefore causes it to fail |
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modeling a parallel renewal process |
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Extremes, Simulating probability |
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Estimating total cost of Poisson failures at different rates. Note this is a VC/RS/US model |
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Comparison of several uncertain binomial probabilities |
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Topic link |
Numerical Integration.
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Part 1 of a simple example of a VC/RC/US model: randomness R only |
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Part 2 of a simple example of a VC/RC/US model: randomness R and uncertainty U |
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Part 3 of a simple example of a VC/RC/US model: randomness R, uncertainty U and variability V |
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Simple example of a VC/RS/UL model part 1: generating values for uncertain parameters |
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Value of information techniques. |
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Simulation thinking Graphical illustration of model |
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Simple MC simulation |
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