There doesn't appear to be outliers, truncation, multiple modes, etc.The distribution does not look like a perfect Normal distribution.The uncertainty is quite large, varying between -1000 to 3400.
We can glean a lot of information from this histogram:
(From a Monte Carlo simulation using n = 5000 points and 40 bins). Keep reading below to learn how to make the histogram.įigure 1: A Histogram in Excel for the response variable Profit, created using a Bar Chart. We will start off by creating a histogram in Excel. The last step is to analyze the results to figure out how much the profit might be expected to vary based on our uncertainty in the values used as inputs for our model.
