Question

With the help of example differentiate goal seek and scenarios.

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Answer 1

Answer:

Scenario manager can be used to save different scenarios of the same situation on the same worksheet. ... This combines the information form each scenario into one report on a new worksheet. Goal Seek will allow you find the desired result for a cell, given the know formula. For Example, and keeping it very simple.

Answer 2

Answer:

The Goal Seek function is generally used when there is only one result needed and the result is based on one cell only changing.

Scenarios are used when you need multiple "Scenarios" based on many cells changing. The results are also saved for you as hidden sheets. You can then display these different scenarios whenever needed. For example, you could create 3 different Scenarios

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