In Excel, syntax for this function is NORMINV(probability,mean,standard deviation). Using the sales example, with a weekly sales average of $2,000 that fluctuates about $500 up or down, you know ...

2] To create a bell curve in excel, we need three values, average, standard deviation, and normal distribution. Let’s calculate the average of the data first. For this, enter the following ...

How to apply the Monte Carlo simulation principles to a game of dice using Microsoft Excel. The Monte Carlo method is widely used and plays a key part in various fields such as finance, physics ...