Just for fun, here we talk about using Monte Carlo simulation to estimate the value of π (3.14159…). A circle of radius one will have area equal to π, and a square drawn around that circle will have area 4. When centered at the origin the circle has the equation...
@RISK is available with companion product PrecisionTree in the DecisionTools Suite. PrecisionTree creates decision trees in Excel to allow you to map and understand the complex decision problems. @RISK functions are recognized by PrecisionTree, and the two may be...
Decision Trees Explained In our first post, we discussed how presenting objective, realistic models that show all possible scenarios helps manage expectations early in the litigation process, setting the stage for productive settlement discussions. In this post, we...
