[johnnyrocket]

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exp(2*(300^2)*(1.13333^2/1.5^4)) = 15.929


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Thanks again senor Jerrod.
I understand phi now thanks. And to give a little something back to 2+2 community to calculate the phi of a value in Excel use NORMSDIST function.

I'm still baffled though in at least one spot. I worked out that exp(2.768141347) = 15.929, but the figure in brackets here appears to be equal to 45668.86716, the exp(45668.867169) is massive of course. Am I reading the equation wrong or missing out on a bracket somewhere? [img]/images/graemlins/confused.gif[/img]

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he may have taken the natural log and u worded this a little weird? i dont have a calc in front of me but natural log is the inverse of exp so it would be much smaller, i'll try it on a calc later if i find mine