define goal and seek and also explain its steps with example .
Answers
Follow the above steps
Answer:
A Goal Seek is a tool that is used to find an unknown value from a set of known values. It comes under the What If Analysis feature of Microsoft Excel, which is useful to find out the value that will give the desired result as a requirement. This function instantly calculates the output when the value is changed in the cell. You have to mention the result you want the formula to generate, and then determine the set of input values that will generate the result.
Step 1 – Set up a scenario
In cell A1, we have the text “Already Know,” used as a label for the value within our formula that we’re certain of. In this example, that value is 25, as seen in cell B1.
In cell A2, we have the text “Uncertain Value,” used as a label for the input value we want to determine. In the current equation, we have a value of 75, as seen in cell B2.
In cell A3, we have the text “Desired Result,” used as a label for the expected outcome of our equation.
Step 2 – Insert a formula
Next, select cell B3 and enter =SUM(B1+B2) into the formula bar, and press Enter. A value of 100 should appear in cell B3, the sum of cells B1 and B2. In other words, 25+75=100
Step 3 – Select the Goal Seek command
Next, navigate up to the Data tab in the ribbon menu. At the far right, there should be a group called Data Tools. Under the Data Validation and Consolidate options, you’ll find a drop-down menu for What-If Analysis. Select that, and from the menu, select Goal Seek.
Step 4 – Input the desired values
The goal seek function requires input for three options.
Set cell: Here, you need to input the name of the cell where the formula is located. For our example, that’s cell B3, which holds our formula =SUM(B1+B2).
To value: Here, you need to input the real desired value of our new equation, which the goal seek function will create. We’ll set it to 200. This means we want the sum of cells B1 and B2 to equal 200. However, we can only do that…