'FIFA World Cup 2022 - Monte Carlo Simulation
Originally published: 22/11/2022 10:15
Last version published: 24/11/2022 08:41
Publication number: ELQ-69882-2
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'FIFA World Cup 2022 - Monte Carlo Simulation

FIFA World Cup 2022 - Monte Carlo Simulation

Description
The mechanism behind the model is relatively simple, it is using betting sites odds and a random number generator (RAND function) to simulate the world cup results, and then performs thousands of simulations with the help of Data Tables (extended version includes twenty data tables, as it also simulates the results for each group – you could easily get rid of sixteen of them by eliminating four tabs). 


I included a couple of new features, most notably, the model can be updated with actual results through the tournament, at least until the group stage (an updated version may come).



The mechanism behind the model is relatively simple, it is using betting sites odds and a random number generator (RAND function) to simulate the world cup results, and then performs thousands of simulations with the help of Data Tables (extended version includes twenty data tables, as it also simulates the results for each group – you could easily get rid of sixteen of them by eliminating four tabs).
I included a couple of new features, most notably, the model can be updated with actual results through the tournament, at least until the group stage (an updated version may come).


RAND + Data Table

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