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A Spreadsheet Scenario Analysis Technique That Integrates with Optimization and Simulation

Listed author(s):
  • Thomas A. Grossman

    ()

    (School of Business and Professional Studies, University of San Francisco, San Francisco, California 94117)

  • Özgür Özlük

    ()

    (College of Business, San Francisco State University, San Francisco, California 94132)

Registered author(s):

    Scenario analysis is a widely used technique, and business students should be proficient in running scenarios through a spreadsheet model. We propose 10 desirable properties for a scenario analysis technique, and show that the Microsoft Excel Scenario Manager tool satisfies only one of them. We provide a tutorial for a better technique that can be programmed into an existing spreadsheet in a matter of minutes. We show how to integrate the technique with the Excel Solver to allow for rapid optimization of multiple scenarios and with the Crystal Ball add-in for Monte Carlo simulation to enable simulation of multiple scenarios. Our undergraduate and MBA students are able to learn the technique with little difficulty.

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    File URL: http://dx.doi.org/10.1287/ited.1090.0027
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    Article provided by INFORMS in its journal INFORMS Transactions on Education.

    Volume (Year): 10 (2009)
    Issue (Month): 1 (September)
    Pages: 18-33

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    Handle: RePEc:inm:orited:v:10:y:2009:i:1:p:18-33
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