Thanks, that's helpful. I'm using Excel 2003 so I'll try and keep it simple
and stay within their native functions. I'm still trying to incorporate
range however.
What I'm doing is building a model that will allow the user to input the
minimum and maximum possible values (between 0 and 1) and then have Excel
pull a random number from a normal or other distribution. Your suggestion of
=NORMSINV(RAND()) got me halfway there but I'm trying to figure out a way to
incorporate the range the user inputs. It could also be that I need to
assume some mean and standard deviation. =NORMSINV(RAND()) uses 0 and 1
respectively.
Any ideas or places to look?
Thanks
McGinty
"Jerry W. Lewis" wrote:
Theoretically, =NORMSINV(RAND()) would be a normal random number. In
practice, prior to Excel 2003 NORMSINV() was too inaccurate for for this to
be acceptable even for non-stringent applications. Alternately you could use
Ian Smith's inv_normal() function instead of the native Excel function
NORMSINV()
http://members.aol.com/iandjmsmith/Examples.xls
Another approach would be to use the Box-Muller method
=SQRT(-2*LN(RAND()))*COS(2*PI()*RAND())
or
=SQRT(-2*LN(RAND()))*SIN(2*PI()*RAND())
Jerry
"McGinty" wrote:
Is there a way for me to have Excel select a random number from a given,
e.g., normal distribution? Also can I put a range on the distribution?
Thanks in advance