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GOAL SEEK

GOAL SEEK. Mr Dacey Monday 11 th July 2011. Objectives. To be able to define the terms profit and loss To be able to use the Goal Seek function to identify necessary changes to variables. Goal Seek. Does anyone know what the term Goal Seek means? Open CarBootSale.xls.

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GOAL SEEK

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  1. GOAL SEEK Mr Dacey Monday 11th July 2011 Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

  2. Objectives • To be able to define the terms profit and loss • To be able to use the Goal Seek function to identify necessary changes to variables Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

  3. Goal Seek • Does anyone know what the term Goal Seek means? • Open CarBootSale.xls Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

  4. Profit and Loss • When running a business or an event you would need to make money and spend money • Money made is called income • Money spent is called outgoings INCOME – OUTGOINGS = PROFIT/LOSS Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

  5. FoCC Car Boot Sale • Your spreadsheet shows the income and outgoings for a FoCC car boot sale • It also shows you how much profit they make from a car boot sale • You will need to use Goal Seek to try out some ‘what if’ scenarios • When you have completed a question, do not change any of the values back – just work through the next question Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

  6. Goal Seek Questions • Click on cell J24. Go to the Tools menu at the top of your screen, then click on Goal Seek. In the Goal Seek window, type in the following data:To value: 450By changing cell: C17Click on the OK button in the Goal Seek Status window • Click on cell E18Click on Goal SeekTo value: 450By changing cell: C18 Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

  7. Goal Seek Questions (cont…) • Now answer questions 3 to 6 • If you need extra help on questions 3 and 4, click on the button next to them for a clue • See if you can answer questions 5 and 6 by yourselves! Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

  8. Evaluation • Click on the button to take you to the online evaluation • Quickly answer the poll question and add a comment • In the comment I want you to complete the following sentences… “I think Profit and Loss are…” “Goal Seek can be used for…” Mr Dacey Key Words: PROFIT & LOSS GOAL SEEK

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