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A free Excel-add-in to do Monte Carlo simulations Download MonteCarlito, open it in Excel, turn on macros, and follow the instructions in the spreadsheet.Monte Carlo simulations can be used to compute mathematical functions where no fast, analytical solution exists (e.g., integrals, some financial functions,), or to look at the statistical behavior of complex systems.Basically, in a Monte Carlo simulation you analyze a random function, often to get its average result (its so-called "expected value"). Say you are offered to play the following game: you throw a dice, and get 1$ it you throw 1, 4$ if 2, 9$ if 3, 16$ if 4, 25$ if 5, and 36$ if 6. But you also have to pay 14$ upfront to participate.Would you play that game? To answer that question, you determine the expected profit/loss; an easy way to do this is to simulate the game many times and average the individual outcomes. Here are some key features of "MonteCarlito": · Statistical analysis: mean, median, standard error, variance, skewness, kurtosis · Histograms · Direct output of results to Excel sheet · High-speed simulation mode with minimized windows · Easy to expand, open-source code · Support for Windows and OS X versions of Excel Requirements: · Microsoft Excel What's New in This Release: · Added introductory tutorial for Monte Carlo and MonteCarlito.

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