FUNDAMENTALS OF COMPUTER

USING MICROSOFT EXCEL

HOW TO MODIFY THE WORKSHEET TAB IN EXCEL

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which What-If Analysis tool would you use to solve the following problem? You want to find out what interest rate you have to get in order to keep your house payment under $1200 a month.
A
Goal Seeking
B
Data Table
C
Scenario
D
None of the above
Explanation: 

Detailed explanation-1: -Goal Seek is Excel’s built-in What-If Analysis tool that shows how one value in a formula impacts another. More precisely, it determines what value you should enter in an input cell to get the desired result in a formula cell.

Detailed explanation-2: -If you want to analyze more than two variables, you can use Scenarios. Although it is limited to only one or two variables, a Data Table can use as many different variable values as you want. A Scenario can have a maximum of 32 different values, but you can create as many scenarios as you want.

Detailed explanation-3: -Goal Seek is a What-If Analysis tool that helps you to find the input value that results in a target value that you want. Goal Seek requires a formula that uses the input value to give the result in the target value. Then, by varying the formula’s input value, Goal Seek tries to solve the input value.

Detailed explanation-4: -Goal seek, Scenario Manager and Solver are used to perform what if analysis in Excel.

There is 1 question to complete.