Monte Carlo Method
Assignment Preparation:
Activities include completing the SkillSoft® courses, watching
the Lynda.com® videos, independent student reading, and
research.
Complete
the Skillsoft
®
course, "Basic Statistics and Graphical Methods for Six
Sigma."
Complete
the Skillsoft
®
course, "Risk Management: Assessing Risk."
Watch
the Lynda.com video, "Up and Running with Excel What-If
Analysis."
Watch
the Lynda.com video, "What do you need to know to be an
analytics professional?"
Watch
"Performing Monte Carlo Simulation" of the Lynda.com "Up
and Running with Excel What-If Analysis," video.
Assignment:
Recreate
the simulation presented in the "Performing Monte Carlo
Simulation" video.
Submit
the Microsoft
®

Excel
®
spreadsheet along with a 1- to 2-page explanation on how the
Monte Carlo tool can be used in risk assessment.