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@RISK Utilized in Spelman College Grant Research Project on Health Care Costs of Former Inmates

@RISK Utilized in Spelman College Grant Research Project on Health Care Costs of Former Inmates
According to Dr. Marionette Holmes, assistant professor at Spelman College, the homeless and previously-incarcerated population represents one of the most vulnerable demographics in the United States in terms of health care, and the cost for caring for these individuals can be staggering. For example, the monthly cost to care for those who are triply diagnosed with a mental illness, HIV positive, and substance abuse problems can range from approximately $4,000 to $40,000. In a grant research project entitled, "Examining the Health and Economic Impact of a Policy Driven Supportive Housing Program for Formerly Incarcerated Homeless Individuals in New York City," Holmes is utilizing @RISK in a cost-benefit analysis that considers the economic and health impacts of prisoners moving from incarceration to homelessness and moving from incarceration to supportive housing.

The supportive housing program Holmes examined is located in New York City, and specifically targets individuals who have cycled through both the penal and health care system more than four times over the past five years. One of the implementations of @RISK in this research is through a model that converts risky sexual behavior into HIV transmission risk and uses findings to project future HIV transmission probabilities.

Findings of the study are expected to be released in December.

Dr. Holmes has also assisted her research students with the use of @RISK. Ms. Andrea Brown, a recent graduate of the Spelman College Mathematics Department is writing a research paper entitled, “The Impact of Condom Attitudes of African American Female College Students on HIV/STD Transmission Risk,” which utilized @RISK in a cost-benefit analysis. Though the paper is still being written, the research conducted took first place in a recent research competition.

» More about Spelman College
» More about Dr. Marionette Holmes

@RISK After a couple of years dealing with your
      company, and years of dealing with many
      other software vendors, I can say that your
      service and support are outstanding.
Trial Versions

                        Zeljko Bratic, Desktop Management
                        Solution Analyst, Kwantlen Polytechnic University

Recent School Adoptions

Over 60,000 students use the DecisionTools Suite annually in their MBA and graduate level programs. In 2012, over 800 universities worldwide adopted the DecisionTools Suite. Professors in business, engineering, OR, and other fields keep their students on the cutting edge by teaching the latest analytical techniques from Palisade. Some major schools with programs and courses that standardized on the DecisionTools Suite last month include:

US and Canada:

  Babson College
Bentley University
Bloomsburg University
Boston University
Colorado School of Mines
Cornell University
Emory University
Harvard School of Public Health
Indiana University
Ithaca College
Pennsylvania State University
SUNY Brockport
Texas A&M Transportation Institute
University of California, Los Angeles
University of Connecticut
University of Maryland
University of Texas - Austin
University of Toledo
University of Toronto
University of Wyoming
Université de Moncton
Université du Québec Outaouais
Washington University


  AG & AI - Netherlands
American University of Beirut - Lebanon
Escuela de Ingenieria de Antioquia - Colombia
Fundación Universidad de las Américas, Puebla - Mexico
Georg-August-Universitaet Goettingen - Germany
Hochschule Osnabrueck - Germany
Hochschule Zittau/Goerlitz - Germany
Indian School of Business - India
INSEAD - France
Instituto Superior Tecnico - Portugal
Instituto Tecnológico y de Estudios Superiores de Monterrey - Mexico
Kanagawa University - Japan
Pontificia Universidad Catolica del Peru - Peru
Pontifícia Universidade Católica do Rio de Janeiro - Brazil
Queensland University of Technology - Australia
Royal Veterinary College - United Kingdom
The University of New South Wales - Australia
The University of Tokyo - Japan
UNIAO Brasiliesen de Eduacaco E Cultura - Brazil
Universidad Autonoma de Queretaro - Mexico
Universidad La Salle AC - Mexico
Universidad Politecnica de Valencia - Spain
Universidad Pontificia Bolivariana - Colombia
Universitat der Bundeswehr Munchen - Germany
Universite de Bretagne Occidentale - ESMISAB - France
Universite Paris Dauphine - France
University of Dundee - United Kingdom
University of Oxford - United Kingdom
University of Pretoria - South Africa
University of West London - United Kingdom
University of Westminster - United Kingdom
Licensing Options

There are three easy ways to get the DecisionTools Suite for your students:


Course Licenses available from Palisade. These are economical, annually renewing bulk licenses for both
network lab and laptop installation. Palisade offers a complimentary Live Web Training session to all instructors who order a Course License.
» Learn more

Student Versions from Palisade. These are 12-month versions available for purchase individually by students through either the Palisade web site or the school store.
» Learn more

Textbook Editions available bundled with textbooks.
These are time- and model-limited licenses.
» Learn more

Get DecisionTools Suite 6 for your course by contacting:

AddressPalisade Academic Sales    
800-432-7475 / 607-277-8000

Teaching Tips & Examples

The DecisionTools Suite is a great way to present quantitative techniques in a straightforward, easy-to-understand way. Each month we feature an example or tip illustrating how students can gain "real world" benefits by implementing quantitative analysis.

Generating Random Samples
Excerpted from Learning Statistics with StatTools,
by S. Christian Albright, published by Palisade Corporation

It is occasionally useful to generate random samples from a larger data set and record their values. StatTools performs this operation easily. Consider the data set on employee salaries. (Salaries 1.xlsx, it has data on 208 employees) To generate several random samples of a given sample size from this data set, select Random Sample from the Data Utilities dropdown. The resulting dialog box gives you several choices. First, you can select any or all of the variables to be included. Next, you must specify the number of samples and the sample size.

Palisade Corporation Download the example spreadsheet and
    step-by-step instructions

Tech Tip of the Month

Viewing a Corrected Correlation
Matrix in Excel

You may wish to view in Excel the corrected matrix that @RISK generates and uses while simulating. If @RISK detects an inconsistent correlation matrix in your model, it will correct it, using any related Adjustment Weight matrix. However, it leaves your original inconsistent matrix as you entered it in Excel.

To view the corrected matrix in your spreadsheet:

  1. Highlight a range with the same number of rows and columns as the original correlation matrix.
  2. Enter the function =RiskCorrectCorrmat(CorrelationMatrixRange, AdjustmentMatrixRange).
  3. Press [Ctrl][Shift][Enter] at the same time to enter your formula as an array formula.
    Note: the AdjustmentMatrixRange is optional, and only used when you are applying adjustment weights.

For example, if the correlation matrix was in the range A1:C3, and the adjustment weight matrix was in E1:G3, you would enter:


The corrected coefficients for the matrix will be returned to the range. The RiskCorrectCorrmat function will update the corrected matrix anytime you change a coefficient in the matrix or a weight in the Adjustment Weight matrix.

» See more in the @RISK manual

Textbook of the Month

The DecisionTools Suite is included in dozens of major textbooks, and is a key component of more titles every year. Authors use the DecisionTools Suite to illustrate key analytical concepts and build examples demonstrating the value of quantitative techniques in business, OR, and engineering.

Practical Management Science -
Spreadsheet Modeling and Applications
By Wayne Winston and Dr. Chris Albright

This text takes an active-learning approach, providing numerous examples and problems so students can practice extensively with a concept before moving on. Four types of problems -- skill-building, skill-extending, modeling, and cases are graded within sections and chapters to help instructors assign homework. Another important feature is the way that the text integrates modeling into all functional areas of business: finance, marketing, operations management using real examples and real data. Examples utilize @RISK, PrecisionTree, RISKOptimizer, and more. The text emphasizes modeling over algebraic formulations and memorization of particular models. Shell files are also provided so that instructors can give students as much or as little information as they need.

This new edition has been update for Excel 2010.

» Learn more from the publisher
» See a list of books bundled with Palisade software

Featured White Paper

Professors, PhD candidates, practitioners and others often use the DecisionTools Suite as part of a complex analysis to address important problems. These analyses are published in white papers. Each month we will feature a different academic white paper addressing a wide range of issues.

Assessing Traffic and Revenue Studies for Tolled Facilities Using a Toll Viability Screen Tool built with @RISK
By Don R. Smith, Carlos Chang-Albitres, Wm. R. Stockton, and Craig Smith, Texas Transportation Institute of The Texas A&M University, October 2004

In an era where agencies are looking to invest hundreds of millions – and even billions – of dollars into a single transportation facility, the feasibility and investment-grade studies for such projects must instill a high confidence to the financial markets and the public. Texas Transportation Institute (TTI) assesses the reasonableness of toll road and managed lane traffic and revenue (T&R) studies by using simulation techniques to examine the rationality of base assumptions and study the unique and simultaneous risks associated with those variables.

T&R studies consist of several sequential data transformations that ultimately result in annual toll transaction and revenue estimates for decades into the future. Because toll road and managed lane projects can vary greatly in their complexity, TTI needed to devise a way to review their corresponding T&R studies in a consistent and direct method. With federal and state funding, TTI created the “Toll Viability Screening Tool” (TVST) using @RISK.

Palisade Corporation  Read the full paper here

Academic Live Webcast

Experts using Palisade software share examples and teaching tips. Register online at no charge.

Modeling Multi-Staged Investments
with @RISK

To be presented by Eric Torkia, MASc, Technology Partnerz Ltd
July 25, 2013, 11:00am EDT (Eastern Daylight Time)

When planning a multi-staged investment such as new product development or the deployment of a new asset consisting of multiple stage gates, the consequences on analyzing NPV risk are substantial. This complimentary live webcast will show you how to model multiple gates as well as their impact on financial performance. Also presented in this model are how to assess completion stages and probabilities of investment success.

» Read more details about the webcast and register here
» See complete Webcast schedule

Palisade Corporation

The Academic Global Leader in
Risk and Decision Analysis
Palisade Corporation is the world’s leading provider of risk and decision analysis software and solutions. Founded in 1984, its products @RISK and the DecisionTools Suite are used by over 95% of the Fortune 100, in nearly every industry around the world. Palisade is headquartered in New York State, and has offices in London, Sydney, Rio de Janeiro, and Tokyo.

What is The DecisionTools Suite?
The DecisionTools Suite is the world’s only integrated set of risk and decision analysis programs. The Suite includes @RISK for Monte Carlo simulation, PrecisionTree for decision trees, and TopRank for “what if” sensitivity analysis. In addition, DecisionTools Suite comes with StatTools for statistical analysis and forecasting, NeuralTools for predictive neural networks, and Evolver and RISKOptimizer for optimization. All programs work together seamlessly, and all integrate completely with Microsoft Excel for ease of use and maximum flexibility.

The Suite is offered in three affordable and flexible licensing options for those in academia: Student Versions, Course Licenses and Full Academic Versions.

» Schools using Palisade software
Textbooks using Palisade software

Story to Share?
How are you using Palisade software in your classroom, lab, or field work? Let us know by answering a few brief questions. Please send replies to

  • Your name, title, institute, and field of interest.
  • How long have you been using Palisade software?
  • Which Palisade software do you use in your class/lab/field work, and what is the course name (if applicable)?
  • What problem(s) do you address with the software?
  • How does Palisade software help you and your students?
  • Any other comments.

In This Issue

» @RISK Utilized in Spelman
   College Grant Research
   Project on Health Care
   Costs of Former Inmates

» Recent School Adoptions

» Licensing Options

» Teaching Tips &

   Generating Random Samples

» Tech Tip
   Viewing a Corrected
   Correlation Matrix in Excel

» Textbook of the Month
   Practical Management
   Science - Spreadsheet
   Modeling and Applications

» Featured White Paper
   Assessing Traffic and
   Revenue Studies for Tolled
   Facilities Using a Toll Viability
   Screen Tool built with @RISK

» Academic Live Webcasts
   Modeling Multi-Staged
   Investments with @RISK

» About Palisade and the
   DecisionTools Suite

» Story to Share?

Keep in Touch
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2013 Palisade Risk Conferences
These events include industry experts presenting a selection of real-world case studies, practical software workshops and training classes presented by Palisade trainers, consultants, and software engineers. Also, be sure to sign up for an Expert Session, in which you can have an expert review your model and answer questions, one-on-one, at no charge!
» Santiago de Chile:
   19 March

» São Paulo: 21 March
» Johannesburg: 25 April
» Tokyo: 14 May
» Shanghai: 16 May
» London: 11 June
» Frankfurt: 13 June
» Brisbane: 27 August
» Perth: 29 August
» Las Vegas: 20-21 November

» Training Seminars
Kuala Lumpur: 3-4 July
Sydney: 10-11 July
Melbourne: 17-18 July
Brisbane: 7-8 August
Adelaide: 21-22 August
Bangkok: 11-12 September
Hong Kong: 16-17 September

London: 16-18 July
London: 17-19 September
Munich: 24-26 September

Latin America
Santiago: 25-27 de junio

North America
Portland: 19-20 June
Toronto: 25-27 June
New Orleans: 8-9 July
Cincinnati: 9-10 July
Houston: 16-18 July
New York City: 30-31 July
Calgary: 6-8 August
Boston: 13-15 August
Chicago: 27-28 August
Atlanta: 10-12 September
San Francisco: 17-19 Sept.


» Live Web Training
Decision-Making and
Quantitative Risk Analysis
using the DecisionTools Suite

11-12 July, 1pm-5pm ET
9-10 Dec., 9am-1pm ET

1- 2 August, 1pm-5pm ET
19-20 Dec., 9am-1pm ET

Decision-Making and
Quantitative Risk Analysis
using @RISK

31 Oct. - 1 Nov., 1pm-5pm ET

14-15 Nov., 1pm-5pm ET

Project Risk Assessment
using @RISK

18-19 Sept., 1pm-5pm ET

Trial Versions

Palisade software is available in fully functional trial versions. Try @RISK or any of our software today!

The DecisionTools Suite
The complete risk and
decision analysis toolkit

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