Re: Simulation software

Sheikh Rahman ( rahmansm@front.net )
Tue, 02 Sep 1997 19:23:49 +0600

At 08:35 AM 02/09/97 -0400, you wrote:
>
>What do people use for simulation software these days? I remember people
>using a spreadsheet add-on called Risk by Palisade software.
>
>Do people still use this or is there another hot product out there now.
>
>Thanks,
>
>Kirk Fleming
>
>
>
> I had few occassions to use the simulation software @RISK. This works
as an add-in for Lotus 123 or Excel. This is a great tool for modeling or
various risk analysis. @Risk allows you to define uncertain cell values in
spreadsheets using random numbers generated from certain proabaility
distributions. You may generate random numbers from about 34 prbability
distributions. It has various graphic features; you may import graphics or
any other results to your spreadsheets from @RISK results.

This softare is developed by Palisade Corporation. They have also developed
another software named BESTFIT. This is useful for fitting probability
distributions (both discrete and continuous). You may be able to fit both
"frequecy" and "severity" data to suitable probability models. I believe
the two companion products, @RISK and BESTFIT, may serve as extremely useful
combination that may be unmatched by any orher software I am aware of.

One limitation of BESTFIT is that you would not be able to fit Aggregate
Loss Distribution with this software. For this purpose you may use a
software developed by Professor S. Klugman of Drake University, USA.

Sincerely,

Sheikh M. Rahman

_____________________________________________________________________


Visit the CAS Web Site at http://www.casact.org
===============================================
To subscribe or unsubscribe from CASNET:
Send an e-mail to caslists@lists.casact.org
Type in the body join casnet to subscribe
or leave casnet to unsubscribe.