The Monte Carlo Simulation System: A 100% Excel-Based System

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Abstract

MCS is a user-friendly and graphically oriented risk-analysis system that allows professors/students to incorporate uncertainty in a wide variety of decision and planning models.

Through the power of simulation, MCS becomes an effective tool in the hands of the professor/student. You can answer questions such as, "If we change our cost structure (i.e., relative mix of variable costs versus fixed costs) what is the chance we will still make a profit?" or, "If we sell these units at these prices, what are the chances we will have enough cash at the end of each month?" or, "How likely are we to achieve a specified level of profitability?". With MCS you can answer these questions confidently, efficiently and accurately.

Author

• Paul Michael Goldwater, University of Central Florida