VoseSimulate

See also: The parametric Bootstrap

VoseSimulate(VoseDistributionObject)

 

 

Example model

Returns a randomly generated value from a distribution.

In many situations it is convenient to construct a distribution object in a separate spreadsheet cell, and use VoseSimulate referring to that cell. For example if you want to use both sampled values and the statistical moments from a given distribution, or if the distribution is constructed by fitting to data.

Example: parametric bootstrapping

Suppose we want to model the uncertainty about the population mean using parametric bootstrapping. Suppose we have reason to believe the data (stored in an array named Data) comes from a LogNormal distribution.

  1. Construct the fitted distribution by writing =VoseLogNormalFitObject(Data) in a spreadsheet cell. Name this cell FittedDistribution.

  2. Write =VoseSimulate(FittedDistribution) in a number of cells, generating a random sample from the fitted LogNormal distribution.

  3. Calculate the desired statistic of this sample (E.g. using the AVERAGE function from Excel). This gives us the uncertainty distribution of the population statistic.

 

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
-->