Using Goal Seek

Data tables, Scenarios, Goal Seek and Solver are all tools used in performing what-if analysis.  You use a one-variable data table when you want to find multiple results based on one changing variable.  You use a two-variable data table when you want to find one result based on two changing variables.  Scenarios allow you to find multiple results based on more than one changing variable.  In all these situations, you know what the variables can change to, but you DON'T know the results.  You're trying to find the results.

But suppose you know the answer you want, but you don't know what the values necessary to achieve that result are.  You could just type in various values until the result you want appears, but an easier way is to use Goal Seek or Solver.  Goal Seek is used to find the value of one variable given the result you want.  Solver is used for more complex problems where you may have more than one variable.

Please be sure you know which tool to use in the various situations.


Goal Seek is the easiest tool to use and is a real time saver.  For example, suppose you want to know what you must make on the final exam in order to receive an A in this course.  The lowest value for an A grade is 93.  Therefore, you want your final grade to be at least 93. 

. Using the sample worksheet above, you COULD type values for the final exam in cell C4 until the final grade is 93.  But an EASIER way is to use Goal Seek.   To do this, simply select Goal Seek from the Tools menu.  Then enter the cell references and value as shown in the dialog box at the left.  You want to set the Final Grade cell (B4) to the value of 93 by changing the Final Exam (cell C4).  When you click OK, the grade you need to make on the final appears in cell C4.  Download the ACCPRIN file and try it yourself.

Read pages 10.01 through the top of page 10.14 and perform the steps as instructed.  Then perform the Quick Check below and e-mail it to me.  Please e-mail this to me BEFORE you go on to Solver.
 
Quick Check.
Download the GoalSeek file.  You can't afford the monthly payment of $550.76.  How much would you have to pay as the down payment to lower your monthly payment to $475 per month?  Perform the command, save the file and send it to me.  Remember to save the file with your name as part of the filename.

Go to Solver.

sloopj@octech.edu