April 2016
Intermediate to advanced
284 pages
9h 26m
English
book
Practical Spreadsheet Risk Modeling for Management
by Dale Lehman, Huybert Groenendaal, Greg Nolder
Content preview from Practical Spreadsheet Risk Modeling for Management
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Modeling with Objects 81
Running 10,000 simulations for 1,000 insured drivers
*
and comparing
the outputs with and without correlation between damage types gives the
results shown in Figure3.29. Also, calculations of the “Probability of Prot”
in the spreadsheet reveal the probability that the average policy cost is less
than the assumed average premium of $800.
The narrower histogram in Figure3.29 represents the no correlation case:
The mean policy cost is not affected by correlation, but the results are clearly
riskier when correlation is present. This is because relatively high (or low)
claims in one dimension will tend to be mat
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