VoseSimMSE | Vose Software


See also: VoseSimCofV, VoseSimCorrelation, VoseSimCVARp, VoseSimCVARx, VoseSimKurtosis, VoseSimMax, VoseSimMean, VoseSimMin, VoseSimMoments, VoseSimPercentile, VoseSimProbability, VoseSimMeanDeviation, VoseSimSemiStdev, VoseSimSemiVariance,  VoseSimSkewness, VoseSimStdev, VoseSimTable, VoseSimVariance, VoseSimCorelationMatrix, VoseSimValue

VoseSimMSE(Cell Reference, Simulation number)



Example model

This function returns the standard error about the mean of all simulated values generated in the defined cell.

Cell Reference - the cell for which the generated values are to be analyzed.

Simulation number – an index (1,2,3,…) referring to the simulation number. An optional parameter that is only required when one runs multiple simulations.

The mean standard error (MSE) is a measure of the uncertainty about the ‘true’ mean. In the case of simulation results, the uncertainty about the true mean value (i.e. the mean value that would be achieved with an essentially infinite number of samples) of the simulated variable is generally well-described by a Normal(SampleMean, MSE). The caveat ‘generally’ is included here because this formula is based on Central Limit Theorem and so only applies precisely when the underlying distribution of the variable in question is Normal. However, in simulation one usually is taking a large number of samples so the result generally holds unless the underlying distribution is extremely skewed.