Part 2. MM4XL Tools > 1. Strategic Tools > Risk Analyst > 4. Functions > 3. Distribution Functions > mmEXTVAL(ModalValue, StDeviation)

Risk Analyst

mmEXTVAL(ModalValue, StDeviation)


=mmEXTVAL(1, 1) can equal -0.134865515


Also called Gumbel distribution, this function is used to simulate the occurrence of extreme values, either maximum or minimum. For instance, it could be the maximum time to failure of a component of a parallel circuit, the maximum water flow for a dam, or the minimum time to failure for a dispenser machine.

How to use

This function simulates extreme values. Say we are modeling the production capacity of a fast food restaurant. During the weekend, when the employee at the window requires more than 4 minutes to serve a client, the risk of losing a client in line is high. The formula below may be used to simulate the maximum time taken to serve a client:

=mmEXTVAL(4, 0.525)

Copy the formula above in 100 cells. You will find that the returned values vary between 3 and 7 minutes, which is the range of the extreme time to serve to a client (we might have found it out by collecting samples of serving times at different hours). About 37% of the serving times lie below 4 minutes and about 14% exceed 5 minutes.

Technical profile

Type Continuous distribution.
Syntax =mmEXTVAL(ModalValue, StDeviation)
Domain  Monte Carlo Simulation Software: Management Process Risk Analysis.
Mode ModalValue
Parameters ModalValue = a = the mode
StDeviation = b > 0
Remarks If any argument is nonnumeric mmEXTVAL returns the #VALUE! error value.
Relationships It is related to the Exponential, Weibull and to the Pareto variates.
mmEXTVAL(1, 1) mmEXTVAL(100, 100)
 Monte Carlo Simulation Software: Management Process Risk Analysis  Monte Carlo Simulation Software: Management Process Risk Analysis
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