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Installing the Excel 2007 Analysis Toolpak

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In order to perform statistical functions, you'll need to install the Analysis Toolpak.  A summary is provided here; more detailed information about the toolpak and the functions it contains is available at www.analysistoolpak.com

To install the toolpak in Excel 2007, first access the add-ins menu by opening the Excel Options dialogue in the Microsoft Office Button drop-down menu as illustrated below.

 

Next, click the "Add-Ins" menu on the left sidebar.  Identify which grouping (red arrows in picture below) contains the add-ins named "AnalysisToolPak" and "Analysis ToolPak - VBA" (yellow circle below).

  • If the toolpak add-ins are under the Active Application Add-ins section, there's no need for further action.  The toolpaks are already installed.

  • If they're under the Inactive Applications Add-Ins, then select "Excel Add-ins" in the "Manage" drop-box (green circle below), click "Go...", then select the two toolpaks from the next menu that pops up.  Then click "OK" and you're done.

  • If they're under the "Disabled Applications Add-ins" grouping, then select "Disabled Items" from the "Manage" drop-down menu (green circle below), click "Go...", and select the toolpak items to enable.  Click "OK" and you're done.

 

 

Now you're ready to open the Visual Basic editor and begin your first VBA Monte Carlo simulation.

 

 

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