View Single Post
  #2   Report Post  
Posted to microsoft.public.excel.worksheet.functions
Gary''s Student Gary''s Student is offline
external usenet poster
 
Posts: 11,058
Default Advanced Probability.

You would need to know something about the distribution of the values in the
14 cells. However, let's say you know nothing about the values:

You don't know how large or small they are.
You don't even know if there are repeated values in the 14 or not.

You can STILL get an estimate of the probability by performing a Monti Carlo
analysis.

The first step is to make data. Pick 5 at random, calculate the average and
store the result. Repeat this many, many times. Say we end up with data
from A1 thru A10000 (each cell containing an average)

Now knowing the MAX and MIN of the 10,000 sample we make bins for the data.

The third step is to add counts to the bins based upon the 10,000 values.
The bins represent a probability distribution.

The last step is to compare the reference value with the bin counts.

--
Gary''s Student - gsnu200789


"HelpMePlease" wrote:

Hello,
I have a set of data that is 14 cells. I want to find the probability
that the average of 5 randomly selected cells out of these 14 is over a
certain point. HOW?!