As you can see in Figure 2, there is a small table of standard normal deviates in cells A18:C28.

This will generate a standard normal deviate centered on 0 with a range of -6 to 6.

The following code would return a normal deviate to cell A1:

The primary reason for generating the standard deviate using a macro is that you can write it, test it carefully, and then use the CALL function any time you need a standard normal deviate.

For example, if we wanted to generate revenue with a mean of $15,000 and standard deviation of $1,000 (in other words, 67% of the values fall between $14,000 and $16,000), the formula would be = 15000 + (1000 * A1), where A1 is the cell reference for the standard normal deviate.

5, where A1 is again the cell reference to the standard normal deviate.

Since random deviates will loose the quality of randomness if they are forced to be orthogonal, the objective of this paper is focused on investigating the sensitivity of estimators of a two-equation model in the presence of three levels of unintended correlation between pairs of normal deviates used in the Monte Carlo experiment.

These three scenarios of correlation are then used to generate pairs of normal deviates of sizes N = 15, 25 and 40 with 100 replications.

1) were transformed to the reduced form, error terms for sample sizes of fifteen, twenty-five and forty were produced by a random normal deviate generator and values for the endogenous variables were calculated.