Range

See also: Statistical descriptions of model outputs, Variance, Inter-percentile range, Mean deviation (MD)

The range of an output is the difference between the maximum and minimum generated values. This is almost never a useful measure since it is completely dependent on just the two extreme values (which are, after all, randomly generated and could often take a wide range of legitimate values for any particular model).

Read on: Inter-percentile range

 

ModelRisk

Monte Carlo simulation in Excel. Learn more

Tamara

Adding risk and uncertainty to your project schedule. Learn more

Navigation

FREE MONTE CARLO SIMULATION SOFTWARE

For Microsoft Excel

Download your free copy of ModelRisk Basic today. Professional quality risk modeling software and no catches

Download ModelRisk Basic now

FREE PROJECT RISK SOFTWARE

For Primavera & Microsoft Project

Download your free copy of Tamara Basic today. Professional quality project risk software and no catches.

Download Tamara Basic now
-->