Andy provides a workbook that attempts to solve the problem presented here. I don’t know if the logic is right, but the workbook is cool, and worth a look.
5 thoughts on “Making the Best Choice II”
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If that file doesn’t seem to be working for you, make sure that the Analysis ToolPak add-in is installed. It uses the RANDBETWEEN function, which is provided by the ATP.
I just tried this, and ran one iteration. Both Paulos and Colley chose the last envelope for $54, yet it called Paulos the winner.
I saved the screen shot if anyone would like to see it.
John
Thank you, J-Walk, for the tip. I use ATP so often that I almost forget that anyone does not use it.
John, I’m a little confused about how that could happen. The formula for the Winner is =IF(C14=D14,”Tie”,IF(C14>D14,”Colley”,”Paulos”)). I’ll have to look into it, but it seems like a tough thing to reproduce.
Can’t make this work… Using Excel 2003 US
Stupid me… just installed 2003 and forgot the analysis toolpack… My bad
Cool program! – and site!!