How good is the RAND() function in Excel for Monte Carlo simulation?

Question

I\'m implementing a Monte Carlo simulation in 3 variables in Excel. I\'ve used the RAND() function to sample from Weibull distributions (with long tails). The functions appl

Answer 1

Paul Wilmott, in his Quantitative Finance book, simply adds up the results of 12 calls to RAND() and subtracts 6 for a good approximation to a Normal variable. Quick n Dirty