Question

To optimize an output, you would use ______; to find out the value of an assumption that is needed to hit a certain budget target, you would use ______.

Answer 1

Answer:

Solver, goal seek.........

Answer 2

Question: To optimize an output, you would use ______; to find out the value of an assumption that is needed to hit a certain budget target, you would use ______.

1. Solver, goal seek

2. Consolidate, pivot table

3. Pivot table, consolidate

4. Goal seek, solver

Answer: The correct answers is option $1$, Solver and goal seek.

Explanation:

Goal seek

• The values obtained by entering data into a single input cell, which results in the value appearing in the dependant (formula) field.

• By creating a direct connection between the input cell and the formula, the goal seek will accurately calculate the output.

• You would use goal seek to determine the value of the assumptions required to meet a particular budget objective.

Solver

• The values that are produced by entering the values in various cells are those that are determined.

• It is also an optimization tool that allows the desired outcome to be established by altering the presumptions.

• Therefore to optimize an output, solver is used and find out the value of an assumption that is needed to hit a certain budget target,  goal seek is used.
• #SPJ2