Monte Carlo Simulation Tutorial: Commute Time

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Building the "Commute Time" Monte Carlo simulation worksheet

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Now that we've developed an Excel equation for each of the variables in our Commute Time problem, we can construct the worksheet to calculate total commute time.

In the illustration below, we have entered the following values in the corresponding cells:

A5: =IF(RAND() < 0.9, 111, 360)
B5: =MAX(0, (RAND() * 120) - 30)
C5: =CHOOSE(INT(RAND()*10)+1, 240, 240, 240, 240, 240, 240, 240, 360, 180, 1800)
E5: =SUM(A5:C5)
F5: =E5 / 60

Next make 10,000 copies of ROW 5, and the simulation model is complete. We're ready to analyze the data.

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