+ Reply to Thread
Results 1 to 3 of 3

Monte carlo using multipe data sources

  1. #1
    Registered User
    Join Date
    01-15-2016
    Location
    aberdeen, UK
    MS-Off Ver
    2013
    Posts
    1

    Question Monte carlo using multipe data sources

    I am trying to solve a monte carlo simulation predicting oil price supply and demand balance using excel and a set of assumptions.

    I have no idea how to do this.

    Any hints and tips on working with different tpyes of data (i.e. % decline, $bn, $) would be greatly appreciated.

    Also how to turn this data into a supply demand curve and monte carlo normal distribution for supply and demand in years to come.

    Many thanks,
    newbieCapture.PNG

  2. #2
    Forum Guru
    Join Date
    04-13-2005
    Location
    North America
    MS-Off Ver
    2002/XP, 2007, 2024
    Posts
    16,357

    Re: Monte carlo using multipe data sources

    I have no idea how to do this.
    Full instruction in monte carlo methods is almost certainly beyond the scope of a single internet forum post.

    For someone who has no idea how to do this, I would probably suggest that you start with a basic introductory tutorial in Monte Carlo methods. Here are three (found by putting "introduction to monte carlo methods" into a search engine:
    https://support.office.com/en-us/art...3-4450d8db16f1
    http://www.goldsim.com/Web/Introduct...ic/MonteCarlo/
    http://excelmontecarlo.com/02_introduction.html

    If you are set on creating your own monte carlo simulation, I would suggest that you review these and other tutorials. If there are parts that you don't understand, bring those questions here and we'll help as best we can. I would suggest that you make these questions as specific as possible ("I don't know how to use Excel's RAND() function.") to keep the discussion focused on the parts that you have real difficulty understanding. I might also suggest that you avoid "short-cuts" to this educational experience. Work through the simple examples given in the tutorials (dice rolling and coin tossing are two examples given). Part of learning this sort of thing is going from simple examples to the more complex real world stuff that your final project is trying to do.

    If you are interested in preprogrammed solutions, you might look at Oracle's Crystal Ball software http://www.oracle.com/us/products/ap...iew/index.html or put "open source monte carlo" into your favorite internet search engine. I don't use these applications mysefl, but I have seen users here mention using Crystal Ball. It might be prefferable, even if the software is not free, to use a third party application to perform the monte carlo simulation.
    Quote Originally Posted by shg
    Mathematics is the native language of the natural world. Just trying to become literate.

  3. #3
    Forum Expert
    Join Date
    05-01-2014
    Location
    California, US
    MS-Off Ver
    Excel 2010
    Posts
    1,795

    Re: Monte carlo using multipe data sources

    Quote Originally Posted by MrShorty View Post
    Full instruction in monte carlo methods is almost certainly beyond the scope of a single internet forum post.
    Moreover, for future note, if you (kevinndocherty) have further Excel questions about your implementation, please attach an example Excel file, not an image. Usually, the devil is in the details of the Excel design and implementation, which we usually cannot discern from an image alone.
    Last edited by joeu2004; 01-15-2016 at 03:14 PM. Reason: cosmetic

+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 1
    Last Post: 06-04-2012, 05:25 PM
  2. Monte Carlo Simulation
    By iamnamja in forum Excel General
    Replies: 4
    Last Post: 08-24-2011, 02:39 PM
  3. Monte carlo
    By karan21 in forum Excel Programming / VBA / Macros
    Replies: 3
    Last Post: 07-09-2011, 04:06 PM
  4. Monte Carlo & solver
    By dabrows in forum Excel Programming / VBA / Macros
    Replies: 6
    Last Post: 07-03-2011, 08:53 PM
  5. How can I create a monte carlo from a monte carlo?
    By rrbest in forum Excel Programming / VBA / Macros
    Replies: 0
    Last Post: 10-09-2010, 03:06 AM
  6. 2 Way Data Table issues when running monte carlo simulation
    By excel_nuance in forum Excel General
    Replies: 3
    Last Post: 03-04-2009, 12:28 PM
  7. Integrating Monte Carlo Sim
    By mwgr5 in forum Excel General
    Replies: 1
    Last Post: 07-10-2007, 01:16 PM
  8. How do I record Excel data from each Monte Carlo run?
    By LaStormPrep in forum Excel General
    Replies: 2
    Last Post: 05-08-2006, 06:55 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Search Engine Friendly URLs by vBSEO 3.6.0 RC 1