Central Limit Theorem approximation of the total impact of a number of risks

An example of a Monte Carlo simulation risk analysis model for Statistics

Minimum software requirements: ModelRisk Complete edition

Technical difficulty: 3

Techniques used: Monte Carlo simulation in Excel

Model description

This template model allows you to input a large number of financial risks and immediately determine the exposure without having to run a simulation, by using the mathematics of Central Limit Theorem.

The model also shows the answer one gets by running a simulation for comparison.



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