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Monte Carlo analysis is a practical tech nique for including the effects of uncertainty in a model intended for decision support. It has been infrequently used, however, perhaps because it has been tedious and boring to do. A recently available software add-in to 1-2-3 named @Risk makes Monte Carlo analysis much easier. This paper demonstrates Monte Carlo analysis in spreadsheet simulation in 1-2-3 so that you are better able to judge whether or not you should employ it.
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Dean Uyeno (1992) studied this question.
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