LinkedIn Monte Carlo Discussion

Posted on Mi 29 April 2009 in misc • 1 min read

  • Monte Carlo Sim tags: [] meta: _edit_last: '5' dsq_thread_id: '181044258' author:

    I recently started joined the Monte Carlo Simulation, Excel and ModelRisk LinkedIn Group and found a very interesting discussion thread on the type of probability functions people use for there daily Monte Carlo modeling.  Since I use RiskAMP, an Excel based Monte Carlo simulator, I found this thread very interesting indeed.

    Here's an answer from Lan Ge, scientific researcher at WUR:

    I used to analyze risks related to animal epidemics and used distributions like: Beta, Binomial, Exponential, Erlang, Gamma, Normal, Lognormal, Pert, Poisson (of course!), Student, Weibull, Uniform (Discreet Uniform)..right now I am analyzing a broader range of risks (production, investment, planning), I notice that I am using more and more normal, lognormal, Pert, triangle, and student.

    What I use in my modeling is Normal, Poisson, Pert, Lognormal, and Binomial a lot.  What do you use?