mytest > help > Part 2. MM4XL Tools > 1. Strategic Tools > Risk Analyst > 4. Functions > 3. Distribution Functions > mmRANDBETWEEN(Lower, Upper)

Risk Analyst

mmRANDBETWEEN(Lower, Upper)

Example

=mmRANDBETWEEN(5%, 20%) can equal 6.05341792%.

Application

This function is used to simulate values within a given interval range when we have only a vague understanding of the event. For instance, it could be the probability that the next client orders a soda, the cost of a clinical trial, the time taken to repair a machine. Each value in the range has an equal probability of being extracted (Uniform pdf).

How to use

Say we are modeling the pedestrian flow of a sidewalk that our business display window faces onto. According to internal data we know that every hour between 700 and 1000 people walk past our window. The formula below may be used to simulate the next hour pedestrian flow:

=mmRANDBETWEEN(700, 1000)

Copy the formula above in 100 cells. You will find that it produces values in the range 700-1000.

Technical profile

Type Continuous distribution.
Syntax =mmRANDBETWEEN(Lower, Upper)
Domain  Monte Carlo Simulation Software: Management Process Risk Analysis
Parameters Lower = lower limit
Upper = upper limit
Remarks If any argument is nonnumeric mmRANDBETWEEN returns the #VALUE! error value.
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