Q.78 When two or more values have to be determined, which
data analysis tool is used ?
SOLVER
GOAL SEEK
Data Chart
Pivot Table
Q.79 Which of the following is not what IF analysis tool in Excel
?
Goal Seek
Scenarios
Macro
Data Table
Q.80 Solver is a What-IF analysis tool that:
depends on the use of scenarios
Answers
Explanation:
The Goal Seek Excel function (often referred to as What-if-Analysis) is a method of solving for a desired output by changing an assumption that drives it. The function essentially uses a trial and error approach to back-solving the problem by plugging in guesses until it arrives at the answer. For example, if the formula for revenue is equal to the number of units sold multiplied by the selling price, Goal Seek can determine how many units have to be sold to reach $1 million of revenue, if the selling price is known. The function is extremely useful for performing sensitivity analysis in financial modeling.
Answer:
By altering an underlying assumption, the Goal Seek Excel function (also known as What-If-Analysis) allows one to solve for a desired outcome. Back-solving is effectively done by the function by feeding in guesses and trying different solutions until it finds the right one.
Explanation:
By altering an underlying assumption, the Goal Seek Excel function (also known as What-If-Analysis) allows one to solve for a desired outcome. Back-solving is effectively done by the function by feeding in guesses and trying different solutions until it finds the right one.
Goal Seek may calculate the number of units that must be sold in order to generate $1 million in revenue, for instance, The answer of this question based on if the formula for revenue is equal to the number of units sold times the selling price. When doing sensitivity analysis in financial modelling, the tool is quite helpful.
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