
96 Practical Spreadsheet Risk Modeling for Management
parameters chosen before soliciting the expert opinions since these choices
will limit the distributions available.
*
We will use the PERT distribution here.
†
We now need to combine the three PERT distributions obtained from our
experts. ModelRisk has a Combine option under Select Distribution on the
ModelRisk toolbar. This dialog allows us to enter our three PERT distribu-
tions (as Objects) as well as to assign different relative weights to each expert’s
opinion.
‡
We have chosen to assign 40% weights to the two experts who
do valuation professionally and a 20% weight to the academical ...