I need an inexpensive, easy to learn Monte Carlo simulator. Any suggestions?
Here's the scenario - Residents and nonresidents can apply for any of 100 opportunities in a particular state. Each opportunity has a limited number of spots. But, once 10% of the total slots are filled, nonresidents are no longer considered for any opportunity. For each opportunity, I need to find the odds of residents being successful and the odds of nonresidents being successful. I am very good with Excel but know nothing about Monte Carlo and have a very limited budget.
Here's the scenario - Residents and nonresidents can apply for any of 100 opportunities in a particular state. Each opportunity has a limited number of spots. But, once 10% of the total slots are filled, nonresidents are no longer considered for any opportunity. For each opportunity, I need to find the odds of residents being successful and the odds of nonresidents being successful. I am very good with Excel but know nothing about Monte Carlo and have a very limited budget.
