From the course: Learning Excel: Data Analysis

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Use a uniform distribution

Use a uniform distribution - Microsoft Excel Tutorial

From the course: Learning Excel: Data Analysis

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Use a uniform distribution

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- [Presenter] Many business cases analyze events that are not equally likely. Some products are more popular than others, and your website gets more visitors in certain parts of the day and less than others. In this movie, I will show you how to generate random values when all of the events are equally likely, such as in a random drawing. This is called the uniform distribution, and if there are four possible outcomes, values one through four, then in the uniform distribution, the probability of each would be 25%. Now, over time, it is very unlikely that you will have the same number of values exactly, however, they will be close, and here is one case where I did a random generation of numbers from one to four, and here, you see the actual results. So as with most things in life, theory and practice are often close, but do divert. Now let's switch over to Excel, and I will show you how to work with values that are uniformly distributed. The Excel workbook that I'm using is…

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