The Solver add-in is similar to Goal Seek, but it can accommodate more variables. You can also create forecasts by using the fill handle and various commands that are built into Excel. For more advanced models, you can use the Analysis ToolPak add-in. A Scenario is a set of values that Excel saves and can substitute automatically in cells on a worksheet.
You can create and save different groups of values on a worksheet and then switch to any of these new scenarios to view different results. For example, suppose you have two budget scenarios: a worst case and a best case. You can use the Scenario Manager to create both scenarios on the same worksheet, and then switch between them. For each scenario, you specify the cells that change and the values to use for that scenario. When you switch between scenarios, the result cell changes to reflect the different changing cell values.
If several people have specific information in separate workbooks that you want to use in scenarios, you can collect those workbooks and merge their scenarios. After you have created or gathered all the scenarios that you need, you can create a Scenario Summary Report that incorporates information from those scenarios.
A scenario report displays all the scenario information in one table on a new worksheet. Note: Scenario reports are not automatically recalculated. If you change the values of a scenario, those changes will not show up in an existing summary report. Instead, you must create a new summary report. If you know the result that you want from a formula, but you're not sure what input value the formula requires to get that result, you can use the Goal Seek feature.
For example, suppose that you need to borrow some money. You know how much money you want, how long a period you want in which to pay off the loan, and how much you can afford to pay each month. You can use Goal Seek to determine what interest rate you must secure in order to meet your loan goal. Note: Goal Seek works with only one variable input value. If you want to determine more than one input value, for example, the loan amount and the monthly payment amount for a loan, you should instead use the Solver add-in.
For more information about the Solver add-in, see the section Prepare forecasts and advanced business models , and follow the links in the See Also section. In the completed 5 exams, the anticipated scores are as below. Now the question is how much he has to score in the final exam to get an overall average of 85 eventually. The next and final part is by changing which cell you want to see the impact. Now we have our results here.
In order to get an overall average of 85, Andrew has to score 99 in the final exam. We have already seen two wonderful techniques under What-If Analysis in Excel.
The data table can create different scenario tables based on the change of variable. In simple terms, it helps determine what effect does changing the two variables have on the result. The data inputs in one variable data table are either in a single column or across a row. Assume you are a selling a product at 15 rupees, your total anticipated expense is and profit is You are not happy with the profit you are getting.
Your anticipated profit is So we have our data table ready. If you want to make a profit from , you need to sell at 20 per unit. You can use Excel's Goal Seek feature to find the answer. Note: visit our page about Goal Seek for more examples and tips. What-If Analysis.
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