We can develop a more informed idea about the potential At the end of the day, this is a prediction so we will likely never Thisĭistribution can inform the likelihood that the expense will be within a certain Times and we will get a distribution of potential commission amounts. Manual process we started above but run the program 100’s or even 1000’s of Using the commissions analysis, we can continue the Involves running many scenarios with different random inputs and summarizing the At its simplest level, a Monte Carlo analysis (or simulation) How Monte Carlo analysis might be a useful tool for predicting commissionsĮxpenses for the next year. Now that we have covered the problem at a high level, we can discuss
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