In Excel, syntax for this function is NORMINV (probability,mean,standard deviation). Using the sales example, with a weekly sales average of $2,000 that fluctuates about $500 up or down, you know ...

Rolling two dice has 36 outcomes, which you can calculate in Excel by entering "=6*6" without quotes, because you have two dice, each with six sides. Enter the number of positive outcomes in cell A2.

Expected value describes the long-term average level of a random variable based on its probability distribution. The EV of a stock or other investment is an important consideration and is used in ...