Quote:
Originally Posted by Sully
I need a formula that will allow me to generate a random number, with a weighted probability of different ranges. For example, the random number should fall between:
0-250 20% of the time
251 - 500 30% of the time
501 - 1000 50% of the time
I would like to be able to adjust the ranges and frequencies, so that I can view different curves of outcomes, based on the ranges and probability weighting towards those ranges.
Thanks for this thread. I reference it all the time.
A solution in a single formula, although annoying to change and definitely not for sophisticated weights, would be:
=CHOOSE(RANDBETWEEN(1,10),RANDBETWEEN(0,250),RANDB ETWEEN(0,250),RANDBETWEEN(251,500),RANDBETWEEN(251 ,500),RANDBETWEEN(251,500),RANDBETWEEN(501,1000),R ANDBETWEEN(501,1000),RANDBETWEEN(501,1000),RANDBET WEEN(501,1000),RANDBETWEEN(501,1000))
Last edited by Spurious; 05-11-2013 at 01:33 PM.
Reason: not sure why it sets random spaces