Excel for Marketing Managers

Probability with Coins or Dice

Probability

w/ Coins

or Dice

Probability with Coins or Dice

Opportunity...............................................................................................................................

You know that theoretical probability does not necessarily predict the actual
probability of an event, and that students who are actively engaged in their
learning will usually retain more. However, the thought of arming eighth
graders with coins or dice that in all probability will become missiles does not
sound like an intelligent decision. You can have an Excel spreadsheet toss a
coin or a die to demonstrate the difference between actual and theoretical
probability.

Solution and Overview

You will build a spreadsheet that will use a random number generator to
simulate the toss of a coin or the roll of a die. You can make a visual
representation of the coin or die that will change with each toss, and have
Excel keep a running total of how many of each outcome have occurred, along
with the total number of tosses or rolls.

Both of these workbooks require the use of circular reasoning and manual
calculation in order to generate random numbers and keep track of totals. They
must be made in two separate files. Otherwise, pressing F9 to calculate results
on one worksheet will also calculate results in the other.