Markov cohort simulation in Excel - Probabilistic sensitivity analysis (Part 1)

In this video I show you how to prepare your Excel Markov model to run probabilistic sensitivity analysis (PSA). You will learn about giving cells in Excel names and see examples of sampling from the beta and gamma distributions. Note - After recording the video I noticed a small error. On the parameters sheet, for cell F11 we should have '=BETA.INV(RAND(),60,40)' not '=BETA.INV(RAND(),90,10)'. Apologies for that!