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Sampling - forecast sales by randomly selecting groups of products

  1. #1
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    Sampling - forecast sales by randomly selecting groups of products

    I have over 70 products I sell online. I want to forecast sales by randomly selecting groups of products to simulate an order. Products can be duplicated. I have all my products names, product numbers and profits per product in Excel. Ultimately, I want to show my average profit over a sample of 100 Orders
    Last edited by myearthbiz; 06-16-2008 at 01:50 PM.

  2. #2
    Forum Expert mrice's Avatar
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    You don't say if you want the orders to have the same or random numbers of order lines and, if so, how many the maximum might be.

    This sort of Monte Carlo analysis is best suited to giving you a spread of the amounts of profit you will make per order.

    It would help to have a copy of the sheet posted, even if it only contains dummy data.
    Martin

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