Jan 25 2022 09:13 PM
Hi there,
I'm in the process of creating a decision analytic model on Excel. As part of the model, I need to calculate values along the normal distribution curve for the three measured outcomes we're using. I've been able to find a way to generate values along the curves for each of the individual outcomes, but is there a way I can make it such that the SUM of the values is equal to 1 (as there are only 3 possible outcomes in the model and they need to summate to 1).
I've used the NORMINV(RAND(),mean,STD) function in order to find the values, but I can't seem to figure out a way to relate the three values together such that a maximum value of 1 is achieved. At the moment they always equal to more or less than one. Unfortunately the values are dependent on one another so getting a particular value on the curve for one outcome evidently changes the possible values the other two outcomes can have.
I hope this makes sense, please help!
Jan 25 2022 10:39 PM