Decision making using sensitivity analysis, decision tree, utility theory, Bayesian statistics, Monte Carlo simulation.
InstructorGancheng Sun
The curriculum utilizes specific scenarios such as 'Rainbow in a cup', 'Magic' and 'Overbooking' to apply modeling concepts.
Instruction covers a wide range of tools including Goal Seek, Solver, Pivot Tables, and the XLRisk add-in for simulations.
Editorial course preview
These 2 complementary views highlight concrete, legible examples from the course presentation.
This slide outlines the course curriculum, covering Excel basics, decision tree modeling, and Monte Carlo simulation techniques for risk analysis.
This slide introduces the Feel Good Coffee Inc. case study, detailing that Maria and Robert own a five-store chain in North Carolina used for course scenarios.
Learners have noted that complex theories are sometimes explained too quickly, and software actions can occur at a pace that requires rewinding.
Some signals suggest that the Monte Carlo simulation portion would benefit from more extensive theoretical groundwork prior to exercises.
The curriculum aligns well with the stated goals of analyzing uncertainty using Excel tools.