Assessing Excel VBA Suitability for Monte Carlo Simulation

Abstract

Monte Carlo (MC) simulation includes a wide range of stochastic techniques used to quantitatively evaluate the behavior of complex systems or processes. Despite the popularity of the Excel it has been repeatedly criticized for its flaws and often described as questionable, if not completely unsuitable, for statistical problems. The purpose of this study is to assess suitability of the Excel (specifically its 2010 and 2013 versions) with VBA programming as a tool for MC simulation.