MGSC 300
4.28.2011
After we went over the assignment in Excel, you did some extra little things. The one that I was wondering about was the RAND. What does that stand for? Does it really just mean like Random? If so how does a computer pick random numbers, it seems like a rather strange application to have in Excel.
Courtney
If you type
ReplyDelete=RAND() into a cell, it returns a random number uniformly distributed between 0 and 1. Technically, it is a pseudorandom number as they repeat in exactly the same sequence, but only after trillions of times....
VERY useful for Monte Carlo simulations, if you know what those are....