Error:

Invalid matrix location

Cause:

There are likely one or more names pointing to #REF in Excel.  To verify this:

• Go to Click Formulas » Name Manager.

Solution:

Delete the names that point to #REF.

Best Practice:

To prevent the problem from recurring, don't delete correlation matrices in Excel.

Instead, use the Delete Matrix button in the Define Correlations dialog.

• This will not only delete the matrix, but also delete the name in Name Manager and remove the references to the matrix from the @RISK distributions.