Question

Which of the following tools is capable of producing minimum or maximum possible value for an input ?

Goal seek

Solver

Consolidate​

Answer 1

Which of the following tools is capable of producing minimum or maximum possible value for an input?

a) Goal seek b) Solver c) Data table

Answer:

a) Goal seek is capable of producing minimum or maximum possible value for an input.

Explanation:

• Use the Goal Seek function if you are aware of the output you require from a formula but are unsure of the input value required.
• Consider the situation where you need to borrow some cash.
• You are aware of the amount of money you need, the length of time you wish to repay the loan, and the monthly payment amount you can afford.
• To figure out what interest rate you'll need to negotiate in order to reach your loan objective, use Goal Seek.

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Answer 2

Answer:

Goal seek

Explanation:

• Here, we can understand from the situation that one needs to be aware of the output and a formula.
• So, you use the Goal Seek function if you are aware of the output and you also require from a specific formula but are unsure of the input value required.
• In this while, we can Consider the situation where there might be a need for us to borrow some cash.
• You have to know the total amount of money you need, the length of time you wish to repay the loan, as well as the monthly payment amount that you can afford.
• Now in order to get to know what interest rate you'll need to negotiate so as to reach your loan objective, the use of Goal Seek is important.

Hence, goal seek is the answer.

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