Open Access. Powered by Scholars. Published by Universities.®
Operations Research, Systems Engineering and Industrial Engineering Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Spreadsheet Data Resampling For Monte-Carlo Simulation, Thin Yin Leong, Wee Leong Lee
Spreadsheet Data Resampling For Monte-Carlo Simulation, Thin Yin Leong, Wee Leong Lee
Research Collection School Of Computing and Information Systems
The pervasiveness of spreadsheets software resulted in its increased application as a simulation tool for business analysis. Random values generation supporting such evaluations using spreadsheets are simple and yet powerful. However, the typical approach to Monte-Carlo simulations, which is what simulations with stochasticity are called, requires significant amount of time to be spent on data collection, data collation, and distribution function fitting. In fact, the latter can be overwhelming for undergraduate students to learn and do properly in a short time. Resampling eliminates both the need to fit distributions to the sample data, and to perform the ensuing tests of …