RAND () is quite random, but for Monte Carlo simulations, may be a little too random (unless your doing primality testing). Most Monte Carlo simulations just require pseudo-random and deterministic sequences. As part of the Excel Analysis Tool. Pak RANDBETWEEN () may be all you need for pseudo-random sequences.
According to Microsoft, the Rand () function calculates pseudo-random numbers, rather than truly random numbers. However, the algorithm is tuned so that it doesn’t start repeating numbers for a very long time. The following is from Microsoft‘s article on the Rand () function’s randomness ( Description of the RAND function in Excel ):.
So, are random numbers generated by Excel’s randomizer predictable?
Well, what it means for you is that, in theory, random numbers generated by Excel are predictable, provided that someone knows all the details of the generator’s algorithm. This is the reason why it has never been documented and will hardly ever be.
How do I get random numbers in Excel?
The Excel RAND function returns a random number between 0 and 1. For example, =RAND() will generate a number like 0.422245717. RAND recalculates when a worksheet is opened or changed.
How to seed Excel Rand and randbetween?
There is no way to seed either Excel RAND or RANDBETWEEN function, which are rumored to be initialized from the computer’s system time. Technically, a seed is the starting point for generating a sequence of random numbers. And every time an Excel random function is called, a new seed is used that returns a unique random sequence.
Why excel is bad?
There are many possible damages that arise from using Excel spreadsheets . The most common ones are mistakes, double data entry, wasted time, and security issues. Spreadsheets are bad for your business in most cases.
Why is Excel so bad at analyzing data?
Meanwhile, Excel has no way of checking whether all the figures match with real results. Excel is simply a medium to contain your data and doesn’t permit analyzing the information in depth. The situation’s made worse by the tendency of businesses to rely on manual data entry.
Another query we ran across in our research was “What are the disadvantages of excel over spreadsheets?”.
Spreadsheets make it easy to create errors, a simple mistake like misplacing a decimal point can result in huge errors in accounting. Meanwhile, Excel has no way of checking whether all the figures match with real results. Excel is simply a medium to contain your data and doesn’t permit analyzing the information in depth.
Why are spreadsheets so bad at making mistakes?
If you think about it, it’s not really that surprising – they’re compiled by humans after all. Spreadsheets make it easy to create errors, a simple mistake like misplacing a decimal point can result in huge errors in accounting.