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Excel_Activity5

# Excel_Activity5 - Excel Activity#5 Description Using a...

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Developed by Miller/Waymire, Daytona Beach Community College Excel Activity #5: Using a Random Number Generator and Constructing a Frequency Table/Histogram Description : This lesson creates a uniform distribution to simulate the outcome of a state lottery. Then Excel is used to create a frequency table and histogram. Part I : Creating a Uniform Distribution To supplement state income, many states have instituted lotteries. The prizes are dependent on the number of numbers matched, the amount of money collected by the state in ticket sales, and the number of other players who also won. The state makes money regardless of the number of winners. The payoffs are computed so that the total revenue from ticket sales exceeds the total amount paid off in cash prizes. In one particular game, the player picks 6 numbers between 1 and 49 (in any order) and the state computer also picks 6 numbers. If the player matches 3, 4, 5, or all 6 numbers, he or she wins. The odds of matching 6 out of 6 numbers is approximately 1:14,000,000 and the grand prize payoff averages 7 million dollars. This exercise will simulate the outcome of such a lottery by randomly picking 6 numbers between 1 and 49. This will be repeated 1000 times. 1) In cell A1, type: =Randbetween(1,49) and hit ENTER . (This function randomly selects a number between 1 and 49 from a uniform distribution). NOTE: If “Randbetween” does not give you a number between 1 and 49 (that is, if cell A1 contains: #NAME?, you will have to add the function “Randbetween” to the Excel library using the following steps : 1A) From the “Tools” menu select “Add-Ins.” (You may have to click on a double down arrow first to see more options on the Tools menu. Then select “Add-Ins.”) A pop-up menu should come up. 1B) Check the box that says “Analysis Toolpak” and check the box that says “Analysis Toolpak VBA.” Click on OK . 1C) Another menu may come up saying “ Microsoft Excel can’t run this add-in. This feature is not currently installed. Would you like to install it now ?” Click on YES . The computer will take a few minutes to install the data analysis toolpak. 1D) Once the computer has installed the data analysis toolpak, go back to Step 1 and enter the following in cell A1: =Randbetween(1,49) and hit Enter . You should now have a number between 1 and 49. Move on to Step 2. 2) Click on cell A1 to highlight it. Position the cursor over the lower right-hand corner of the cell until the cursor turns into a dark plus sign. Depress the

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Developed by Miller/Waymire, Daytona Beach Community College left mouse key and drag the mouse to cell A1000. Release the mouse. The formula from cell A1 should be filled into the remaining cells in the range. 3) The cells A1 through A1000 should still be highlighted (if not, click on cell A1, depress the mouse key and drag to cell A1000). With the cells highlighted, position the cursor over the lower right-hand corner of cell A1000 until the cursor turns into a dark plus sign. Depress the left mouse key and drag the mouse to cell F1000. Release the mouse. The formula from cells A1
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Excel_Activity5 - Excel Activity#5 Description Using a...

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