Part 2. MM4XL Tools > 1. Strategic Tools > Risk Analyst > 2. Simulation Never heard of it > Summary of Funcions > Distribution functions

Risk Analyst

Distribution functions

N. Name Chart What it does?
1 mmBETA(Scale, Shape)  Monte Carlo Simulation Software: Management Process Risk Analysis Probability of an event occurring. For instance, the probability that the next client will buy.
2 mmBETAGEN (Scale, Shape, Optional: lower, Optional: upper)  Monte Carlo Simulation Software: Management Process Risk Analysis Like Beta with lower and upper bounds.
3 mmBINOMIAL(Trials, Successes)  Monte Carlo Simulation Software: Management Process Risk Analysis The number of events that occur. For instance, the entrance of a new competitor in the market.
4 mmCHI2(Degrees)  Monte Carlo Simulation Software: Management Process Risk Analysis The amount of mutually exclusive events. For instance, experience, in years of the use of the PC.
5 mmDISCRETE(InputRange, Probabilities)
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Occurrence of a given number of events only. For instance, the lights of a semaphore.
6 mmERF(Mean)  Monte Carlo Simulation Software: Management Process Risk Analysis Returns extreme values. For instance, forecast errors as computed with Forecast Manager tool of MM4XL software.
7 mmERLANG(Mean, Phases)  Monte Carlo Simulation Software: Management Process Risk Analysis Amount of time between events. For instance, the client flow in a fast-food restaurant.
8 mmEXPON(Mean)  Monte Carlo Simulation Software: Management Process Risk Analysis Amount of time between events. For instance, how long it takes between client arrival and departure.
9 mmEXTVALUE(ModalValue, StDeviation)  Monte Carlo Simulation Software: Management Process Risk Analysis Simulates extreme values. For instance, the maximum time taken to serve a client.
10 mmGAMMA(Mean, StDeviation)  Monte Carlo Simulation Software: Management Process Risk Analysis Amount of time between events. For instance, the time to issue an order for sodas at a retail store.
11 mmGAUSSINV(Mean, Lambda)  Monte Carlo Simulation Software: Management Process Risk Analysis Response time in sequential patterns. For instance, web surfing behavior of car buyers searching for information.
12 mmGEO(Trials)  Monte Carlo Simulation Software: Management Process Risk Analysis The number of trials before a positive event. For instance, number of cold calls before we reach a potential buyer.
13 mmHYPERGEO(Sample, Defects, BatchSize)  Monte Carlo Simulation Software: Management Process Risk Analysis The number of expected defects in a sample of a given size according to the number of defects expected in the whole batch.
14 mmINTUNI(Min, Max)  Monte Carlo Simulation Software: Management Process Risk Analysis Numbers with equal probability within a Lower and a Upper bound. For instance, the preference of clients ordering one of three kinds of pizza.
15 mmLOGISTIC(Mean, StDeviation)  Monte Carlo Simulation Software: Management Process Risk Analysis Returns values more spread in the tails of the distribution. For instance, the response of demand to advertising investments.
16 mmLOGNORMAL(Mean, StDeviation)  Monte Carlo Simulation Software: Management Process Risk Analysis The product of several independent events. For instance, the monthly value of a market.
17 mmNEGBIN(Failures, Successes)  Monte Carlo Simulation Software: Management Process Risk Analysis Number of trials before reaching a certain number of successes. For instance, the number of pedestrians exposed to a billboard to obtain 10 visits.
18 mmNORMAL(Mean, StDeviation)  Monte Carlo Simulation Software: Management Process Risk Analysis A normally distributed value around the mean. For instance, the growth of a given market for successive years.
19 mmPARETO(Location, ModalValue)  Monte Carlo Simulation Software: Management Process Risk Analysis Can return extreme values. For instance, the spread of income among social classes.
20 mmPARETO2(Location, ModalValue)  Monte Carlo Simulation Software: Management Process Risk Analysis Can return extreme values starting from zero. For instance, the mean number of active sessions at a website.
21 mmPERT(Location, ModalValue)  Monte Carlo Simulation Software: Management Process Risk Analysis Like mmTRIANGULAR but with smoothed tails. It models events for which the distribution is unknown and thought to be asymmetric.
22 mmPOISSON(Rate)  Monte Carlo Simulation Software: Management Process Risk Analysis Number of events occurring given a mean occurrence value. For instance, the population size at different points in time.
23 mmRANDBETWEEN(Min, Max)
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Values in a given interval range. For instance, the pedestrian flow on a sidewalk.
24 mmRAYLEIGH(ModalValue)  Monte Carlo Simulation Software: Management Process Risk Analysis Simulates time to perform. For instance, wind speed over a year to estimate the energy recovery from a wind turbine.
25 mmSTUDENT(Degrees)  Monte Carlo Simulation Software: Management Process Risk Analysis Events for which we have a mean but not a standard deviation. For instance, the weight of biscuit boxes.
26 mmTRIANGULAR(Min, ModalValue, Max)  Monte Carlo Simulation Software: Management Process Risk Analysis Events for which the distribution is unknown and thought to be asymmetric. For instance, the long-term sales of a new product.
27 mmUNIFORM(Low, High)  Monte Carlo Simulation Software: Management Process Risk Analysis Bounded by a min and max value, and all values in between have equal likelihood. For instance, the price of a series of products.
28 mmWEIBULL(Shape, Spread)  Monte Carlo Simulation Software: Management Process Risk Analysis Models failure time. For instance, the time when a machine enters the critical time for maintenance.
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