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Goal Seek & Solver

Goal Seek & Solver. Bernard Liengme http://people.stfx.ca/bliengme/info/ In Jan 23 folder. Goal Seek. Sometimes called a ‘reverse solver’ The objective is to make the set cell have a specified value by altering the value of the changing cell . Goal Seek is found in

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Goal Seek & Solver

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  1. Goal Seek & Solver Bernard Liengme http://people.stfx.ca/bliengme/info/ In Jan 23 folder

  2. Goal Seek • Sometimes called a ‘reverse solver’ • The objective is to make the set cell have a specified value by altering the value of the changing cell. Goal Seek is found in Data | Data Tools | What-if Analysis

  3. Open Goal&Solver.xlsx Formula in B3 is =B1*B2 We could keep varying B2 until B3 equals 2500. A hit-and-miss method Or we could use Goal Seek Remember that the result is STATIC

  4. Solver is found: Data | Analysis | Solver Solver Open Solver sheet • A product from Frontline Solvers (http://www.solver.com/) licensed by Microsoft • Many more features than Goal Seek • Can solve equations, and find Min and Max conditions • Remembers its setting; so it is easiest to have one Solver model on each worksheet

  5. What if Solver is Missing? • Solver is missing here • Use File | Options | Add-ins | to open the Add-in Manager (see next slide) Video SolverAddIn.mp4

  6. Click to add check mark to Solver Add-in Make this read Excel Add-ins Press Go

  7. Scenarios • A method of having one worksheet remember and display a model with different cell values • Good tutorial at http://www.homeandlearn.co.uk/excel2007/excel2007s7p3.html • Let’s open the Scenario sheet in the embedded workbook • We can make a Scenario Summary to generate a table of results Video Senario.mp4

  8. Scenario Summary • Here is a very simple example Video SenarioSummary.mp4

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