Excel for Marketing Managers

Probability with Coins or Dice

Probability

w/ Coins

or Dice

Using the Coin Toss Application............................................................................................

Ideally, this will work best if the file can be opened on several computers at
once. The more trials that can be done in a short amount of time, the closer the
outcome should be to the theoretical. All the student has to do (in fact, all that
he/she CAN do) is to press the F9 key to simulate the tossing of a coin.

Creating the Solution – Rolling a Die

In actuality, you will be simulating the rolling of a “number cube”, a die with
numbers instead of dots. The process is a lot easier!

1. Enable manual calculation and single iteration.
   Open a new workbook. From the Tools menu at the top of the page, select
   Options and click on the Calculation tab. Click on the radio button next to
   Manual, and click the box to remove the check mark from “Recalculate be-
   fore save”. Next, click on the box next to “Iteration”, and change the num-
   ber of Maximum iterations in the box to 1 (one). Click OK to exit.


2. Fill a series with die face numbers (1-6).
   In cell B4, type in the number 1. Right click on the fill handle in the lower
   right hand corner, and pull straight down to cell B9, and let go. In the dia-
   log box that appears, select Fill Series.

Figure 218

Selecting Fill Series from the right-

click drop down menu