Process simulation with spreadsheet software

Spreadsheet software is an effective tool for simulating dynamic stochastic systems such as mineral processing plants. The two-product formula is used to show how to set up a Monte Carlo simulation in a spreadsheet template a nd how to calculate variances of dependent variables. The key to a reliable and realistic simulation model is to obtain unbiased estimates for all ind ependent variables and variances in the set that defines the stochastic sys tem. Monte Carlo simulation is also a powerful tool for optimizing sampling procedures, for applying sensitivity analysis and for designing and evalua ting experiments.