How does Goal Seek work in Excel
Goal Seek is a powerful built-in what-if analysis tool in Microsoft Excel that allows you to simulate the input needed to achieve a specific output. It's particularly useful when you know the desired value for the output but need to find the correct input value.
Here's how you can use Goal Seek in Excel:
1. Open Excel and load your workbook.
2. Go to the Data tab.
3. In the Forecast group, expand the What-if Analysis tools list.
4. Click on Goal Seek to open the Goal Seek dialog box.
5. In the dialog box:
Select the formula cell where you want to get the desired result (this is your output).
Enter the desired output value in the "To value" cell.
Choose the variable input cell that you want to change (the "By changing cell").
6. Click OK to get the Goal Seek status dialogue box.
The Goal Seek function will then perform iterative calculations, adjusting the value of the input cell until it finds a solution that matches your desired output value. If it successfully finds a solution, it will show you the new input value needed to achieve that result. However, there are times when Goal Seek may not find an exact solution, in which case it will provide an approximate value and indicate that it "may not have found a solution."
Here are some common scenarios where you can use Goal Seek:
Change the number of units sold to achieve a target revenue.
Adjust loan amounts to meet a desired monthly payment for a given interest rate.
Determine the minimum score needed for a required overall grade.
Remember that Goal Seek works by back-solving problems, making it faster than manually adjusting input values. If you encounter issues with Goal Seek, check parameters, values, iteration settings, and ensure there are no circular references in your worksheet. How does Goal Seek work in Excel.
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