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Explanation of Simulation.

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Explanation of Simulation
Before you can use the Excel file for simulation analysis, Ch 14 Simulation.xls,
you must first install an Excel Add-In. If you try to use the file Ch 14 Simulation.xls
before installing this Add-In you will get errors, unexpected dialogue boxes and the
simulation will not function. This Add-In proides a set of special functions that generate
random ariables for the simulation. !ou can use these new functions exactly li"e all the
other functions that come with Excel. !ou can een use the #unction $i%ard to input the
formula for the function automatically. The Add-In also proides a simple Tool &which
shows up on the Excel Tools menu' for doing the simulation.
$e hae included the Add-In file on the textboo"(s )*-+,-, located in the Tool
.its folder. The file is Simtools.xla. The file type, xla, indicates that this file is an Add-
In and not a regular wor"sheet. This Add-In was deeloped by /rofessor +oger -yerson
at 0orthwestern 1niersity. The next paragraph explains how to install this Add-In, but
if you would li"e to see a more detailed explanation, you can go to /rofessor -yerson(s
web site2
http233www."ellogg.nwu.edu3faculty3myerson3ftp3addins.htm.
Installing Simtools.xla
The installation has two steps. The first step is to put a copy of Simtools.xla in
Excel(s 4library5 of special functions. This library is a folder, normally located at
c26/rogram #iles6-icrosoft ,ffice6,ffice67ibrary. !our 7ibrary folder may be at a
different location, depending on how you installed Excel.
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Explanation of Simulation.txt
After you complete the first step of putting a copy of Simtools.xla in the 7ibrary
folder, it is now aailable to Excel. The second step is to tell Excel to use the Add-In.
!ou only hae to do this once, and the Add-In will be aailable any time you use Excel
on your computer. To complete this step, open a blan" wor"sheet in Excel and loo" at
your menu bar. )lic" 4Tools5 and then clic" 4Add-Ins>5. &0ote2 Excel for ,ffice :;;;
will open a new dialog box fairly ?uic"ly, but it may ta"e up to @; seconds with older
ersions.' See the diagram below.
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Explanation of Simulation.txt
This will open a dialog box, similar to the one shown below. )hec" the box
denoted Simulation Tools, and then clic" ,..
At this point, Simtools should now be installed and ready for use. !ou can
?uic"ly erify this by clic"ing the #unction $i%ard &shown as fx on the Excel menu bar',
and then selecting Statistical from the #unction category. !ou should see some new
functions, such as )E and )E/+. These are some of the functions that Simtools added.
8arcourt, Inc. items and deried items copyright 9 :;;: by 8arcourt, Inc.
/age @ of =
Explanation of Simulation.txt
If you close this box and clic" on 4Tools5 in the Excel menu bar, you should also
see a new item on the Tools submenu, called SimTools.

If you hae installed SimTools correctly, then you are now ready to open the
Excel file Ch 14 Simulation.xls and perform a simulation.
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