The function can be set up for classical probability, but it's considerably easier to just construct the formula yourself, especially for a large range of outcomes.

Learn what Value at Risk is, what it indicates about a portfolio, its pros and cons, and how to calculate the VaR of a portfolio using Microsoft Excel.

Excel comes with several inbuilt formulas to calculate cell values. It also provides you a Random Number Generator formula to quickly generate a random number from a range.