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Quotation Calculator and Customized Functions

Speed Up Your Quotation Process!

Quotation systems and calculators are being used in many different businesses. This quotation calculator example demonstrates how a complex calculator can be generated using Excel.

Quotation Calculator Example

This quotation calculator allows users to compute the final cost of their services. The computation is based on multiple criterions from several data sheets. Figure 1. below shows one of the data sheets that is used for this calculator.

The users will be able to define their criterions through a set of user interfacts - combo boxes (drop down menu), checkboxes, and textbox. The final result with itemized costs breakdown then displays on the output area of the spreadsheet as shown in Figure 2.

Fig 1. Screen shot of a data sheet
Fig 2. Screen shot of the calculator sheet

Ever run out of Excel built-in functions to use?

Through Excel VBA programming, customized functions can be built. This customized function example demonstrates the use of user-defined Excel functions with context-sensitive help.

Customized Function Example

This example shows how user-defined functions can be built using Excel VBA or Macros and each of the customized functions has a context-sensitive help section links to it. This example is taken from one of our XL-Modeling products. This project has 12 user-defined functions on option pricing models and option greeks (sensitivities) based on Black-Scholes theory as shown on Figure 3.

Figures 4. is screen shot taken from the help of these functions. Users can easily navigate to different help section for any particular function.

Fig 3. Screen Shot of the customized functions section
Fig 4. Screen Shot of the functions help section

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Monte Carlo Simulation

A Monte Carlo algorithm is often a numerical Monte Carlo method used to find solutions to mathematical problems (which may have many variables) that cannot easily be solved, for example, by integral calculus, or other numerical methods. For many types of problems, its efficiency relative to other numerical methods increases as the dimension of the problem increases. Or it may be a method for solving other mathematical problems that relies on (pseudo-)random numbers. Monte Carlo methods are useful for modeling phenomena with significant uncertainty in inputs, such as the calculation of risk in business. Monte Carlo methods have also proven efficient in solving coupled integral differential equations of radiation fields and energy transport, and thus these methods have been used in global illumination computations which produce photorealistic images of virtual 3D models, with applications in video games, architecture, design, computer generated films, special effects in cinema, business, economics and other fields. The advantage Monte Carlo methods offer increases as the dimensions of the problem increase.
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