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Wealth Gap (Monte Carlo – Unequal Weights)

Gregory Taketa

Gregory Taketa

Gregory Taketa is the Data Decanter, serving refined, well-breathed data analysis while keeping out the sediments.

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Download File (MS Excel 2010+)

This MS Excel file is a self-contained case study to teach Excel users how to create a Monte Carlo simulation while exploring how to handle the United States wealth gap.  For most of you, the essential skill-building includes:

  • Creating a Monte Carlo simulation when the outcomes do not have equal probabilities.
  • Creating a random outcome the probability of which is dependent on the survivors of previous generation (proportions change when dealing with generations of the fruit fly, drosophila melanogaster, for example).

These 2 issues listed above grant you a distinct challenge which you might not find in many other MS Excel learning offerings. 

Requirements:

  • A basic understanding of dominant and recessive traits from high school biology
  • A basic understanding of IF and AND functions
  • A good sense of humor!

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