Calculate a Poisson Distribution Probability in Excel

Leave it to the French to give such an elegant word for a statistical concept - the Poisson distribution. This concept is trying to find out the probability of the success of a given number of events that happens over some area of time or space. Or to more simply state it let's put an example forward...like what is the probability of how many car accidents can happen over a certain road or what's the probability that we see a storm occur over a certain area. There's three examples that will be covered and conveniently enough that is an function in Excel (POISSON.DIST) that execute the Poisson formula.

Basic Introduction to Expected Monetary Value

Expected Monetary Value is one of those basic probability calculations that can help you make some fundamental decisions like if you should take that bet or determine how much money to set aside on a project for risks.  This video will cover common expected (monetary) value scenarios.

Create Filler Text in Word

Have you ever seen the text "lorem ipsum...." and usually followed by a bunch of non-sensical text in some kind of Latin / English words? This is basically filler text that is used as a placeholder for eventual meaningful text that will show up. Did you know that there is a function in Microsoft Word that can actually generate this lorem ipsum text? It's helpful if you don't have an internet connection. However if you do have an internet connection just google for lorem ipsum generator and you find a bunch of lorem ipsum generators. I found the cat themed one pretty funny.