Any real life example for using RANDOM NUMBER GENERATION function in Microsoft Excel?

Answer 1

Yeah, I've used it from time to time in engineering. I use it for a Monte Carlo simulation.

Basically, you figure out the chances of a couple of instances happening. You then tie it to the random number. For example, if there is a 60% chance of happening, make the cell do something if the random number is above 0.4.

It predicts the outcome. Sorry, I'm not explaining it well, but it does have its use.

Answer 2

to learn fly-purchase factors we offered a 2nd card so we are in a position to do all our kinfolk procuring from that account. now and back i purchase ingredient very own to me and sometime M buys ingredient very own to her. an outstanding variety of the time its groceries which we split 50/50 whilst the assertion is attainable in, I would desire to pay my share to M's account. of course there's a distinction between the top of the assertion and the cost date. i take advantage of and IF formulation to pass away quantity cells sparkling till a purchase order is recorder and then to calculate the quantity I owe M in each and each transaction. I additionally use Sumif to calculate the entire of countless categories, which varieties the inspiration for a chart of our shared expenditure. money are additionally recorded. it extremely is an extremely versatile workbook, I renew it each and each twelve months and that i've got an impressive specific checklist of our expenditure. If i detect an previous receipt, i will verify that it substitute into recorded. If a company does no longer technique the transaction i will adjust the checklist. We the two be attentive to precisely how what and as quickly as we spend. At artwork I even have helped supervisors with 2 formulation, Networkdays, for calculating entire pass away; and additionally vogue to projecting expenditures.

Answer 3

I use it to select random DVDs from my library to view. It helps to curb my compulsion to buy new ones, which I can rarely afford.

I have also used it extensively (in Lotus 1-2-3) to create individualized tests from arithmetic to advanced algebra.

If Excel permitted circular references, you could use it to generate histograms for empirical examination of oll sorts of probability problems (e.g. Craps, Roulette)

Answer 4

It works great for doing your taxes.