A _________ is a what-if tool which helps build a model wherein changes made in values are reflected in the possible outcome, which based on some formula. *
Data consolidation
Scenarios
Goal Seek
Solver
Answers
Answer:
Goal seek is the correct answer.
Explanation:
Which tools help with what-if analysis?
Excel includes three types of what-if analysis tools:
Scenario, Goal Seek, Data Table. Scenarios and data tables use a set of input values to determine possible outcomes. A data table works with just one or two variables, but it can take many different values for those variables.
- Scenarios - Scenarios can contain multiple variables, but can only hold up to 32 values. Scenarios and data tables take a set of input values and determine possible outcomes.
- Goal Seek - Goal Seek works differently than Scenarios and Data Tables because it retrieves results and determines the input values that can produce those results.
- Data Table - Only works with one or two variables, but can accept different values for those variables.
Use the Goal Seek feature when you know the result you want from a formula, but you don't know the input values that the formula requires to get that result. Suppose you need to borrow money. You know how much money you want, how long you want to pay off your loan, and how much you can afford each month. Goal Seek allows you to determine the interest rate you need to set aside to meet your loan goals.
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Write 3 advantages of goal seek?
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Difference between goal seek and solver
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Answer:
Goal Seek
Explanation:
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