When thinking about spreadsheet models, simulations and summarizing information the person reviewing the data along with those making decisions have to consider the risks analysis. Select a company of your choice to consider what data they may need to analyze a problem they may be trying to solve. Discuss the following:
What Excel function can be used to support simulations for risk analysis?
- Based on the company selected and problem you want to solve, what data would they need to address the concerns using the risk factors of best and worst-case scenarios?
- What parameters and information would you use for validation and verification?
No less than 300 words and should incorporate at least one outside (citations are from the last six months)