Provide Examples for What If Analysis and explain

Assigment week 5
February 21, 2021
Bible 19947931
February 21, 2021

Provide Examples for What If Analysis and explain

Provide an example from the statement below talking about What If analysis. The statement explained 3 types. Please do the examples in Microsoft Excel 2016.

There are 3 different types of What-If Analysis tools that are found on Excel: Scenarios, Goal Seek and Data Table.

A Scenario can utilize multiple variables, but has a limit of up to 32 values. A Scenario could be used to model two budget scenarios, i.e a worst and best case.

A Data Table works with two or fewer variables, however can accept several different values for the selected variables. A Data Table could be used to model an outcome of a betting event such as a boxing match.

Goal Seek is different to Data Tables and Scenarios as it takes a result and using a pre-determined formula, will give you the possible inputs to obtain that specific result. Goal seek could be used to obtain an interest rate if you want to take out a loan and you know certain factors such as amount of money needed, period you want to pay back over and how much your monthly payments can be.

 

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