oAll of the percentages except for the combined shipbuilding inflation growth rate, gc, and the labor shipbuilding inflation growth rate, gl, need to be constrained to be between0% and 100%. For example, column J is the share of shipyard revenue spent on materials as a percentage of the total value of shipments. This must be between 0% and 100%. It can be constrained by using the following modification to the random draw formula above=MIN(1,MAX(NORM.INV(RAND(),J$5,J$6),0))For all the variables calculated using an equation, simply enter that equation in row 21 and copyit down to row 10020.oColumn Z, the unemployment estimate, may also have to be constrained. This variable iscalculated using an equation rather than a random draw, but the formula entered to constrain it is similar to the one listed for a random draw=MIN(1,[EQUATION],0))For any variable which have a fixed value, simply enter that value in row 21 and copy it down to row 10020.
Cost-Benefit Analysis Fall 2017Assignment #212