From the course: Complete Guide to Excel Statistics with Copilot
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Copilot: Simulations
From the course: Complete Guide to Excel Statistics with Copilot
Copilot: Simulations
- [Instructor] In this chapter, we saw how Monte Carlo simulations can be helpful and how we build them in Excel and using random numbers and then running them a number of different times, creating tables, and then reading all that. But we want to see if we don't know how to run a Monte Carlo simulation, how would we do that? Now, once again, Copilot may be helpful in this area, but with Monte Carlo simulations, one of the most important things is designing the experiment which you want to test hundreds, if not thousands of times. So we're going to keep things simple and we're going to see if Copilot can help us develop the Monte Carlo simulation for a simple experiment. So let's say that, all right, so here's my question. Create a Monte Carlo simulation for an experiment where we flip three coins. We want to track the number of times heads results when we flip those three coins. And we want to have 100 trials. All right, so let's see what it gave us here. Now, it did a really nice…
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