Programs: Microsoft Excel: Lesson 1


                                       

Know the Goal Seek command & Scenario Manager

Main Objectives:
  • To learn the usage of the Goal Seek Command
  • To learn how to use the Scenario Manager
The Goal Seek and Scenario Manager
Objective # 1 The Goal Seek Command

 

 

 

Tool used in problems when a person has a preferred result and has numerous inputs needed to attain this result.

 

  Emphasize:  the GOAL is what is already known, and the several inputs are being calculated in order to achieve this GOAL

 

 An example of this would be a monthly payment regarding a  house or a piece of machinery for farming and a targeted price is in mind.  This tool helps you achieve this targeted monthly payment. 
Objective # 2 Scenario Manager
nTo learn about the scenario function on Microsoft Excel we must first define what a scenario is:
nScenario
n a group of possible circumstances one would want to look into when concluding a spreadsheet model.
nSet by programming desired settings into the scenario manage field.  
Scenario’s are set up and used to look at problems with different perspectives. 

 -If sales increase by10%, what would happen to your net income? Instead of creating awkward "if analyses”, you may want to use Excel’s scenarios. Scenarios are just versions of the same set of data, like the usual best- and worst-case scenarios. You can easily use Excel’s Scenario Manager to develop your scenarios and then switch between them. 

DEMO PROBLEM

Complete the Scenario Manager Exercise for demostration. Follow instructions! 

Try tackling the Goal Seek Exercise now!

Exercises

1. When using the Goal Seek Command, the end result is unknown and we enter different inputs in order for the computer to compute this unknown.

[FrontPage Save Results Component]

   True         False  

2. An example of the Goal Seek Command would be when you have a known monthly payment and you are trying to manipulate inputs to attain this result.

[FrontPage Save Results Component]

   True          False

3. A scenario is a group of possible circumstances one would want to look into when finished a spreadsheet

[FrontPage Save Results Component]

   True          False

4. A good example of a scenario manager would be before you enter any information into a spreadsheet you find out different solutions to related information. 

[FrontPage Save Results Component]

   True          False

5. Scenario Manager and Goal Seek Command are the only tools within Microsoft Excel.

[FrontPage Save Results Component]

   True          False

continue to lesson #2

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Programs: Microsoft Excel: Lesson 1