Suppose you have a model set up to perform a calculation. Using that calculation, you need to figure out how to adjust one input value to get to a certain answer - your goal. The Goal Seek command can simplify this process. "Excel In Depth" - MrExcel
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Excel in Depth, chapter 26.
Goal Seek.
Hey! Welcome back to the MrExcel netcast.
I'm Bill Jelen.
Well, we're working through, the Excel in Depth, book. Chapter 26.
Talking about some, what if tools...
I have a simple little model here where I can figure out the price of the car.
Want to pay for over 60 months, 5.25% interest rate and, what the monthly payment would be?
As uses the PMT function.
We're not here to talk about the PMT function.
I'm trying to get this car.
But, my problem is my budget only handles $425 and so I can start to try and find the price of the car, that it would yield $425.
Just using brute force I can, for example plug in 20000 and that's too low.
So, maybe then try 22500, a little bit too high.
Just keep going back and forth and back and forth.
But, there's a much, much faster way to go.
Anytime you have a model like this, where you have input cells that lead to a final value.
We can have Excel find the right input value, to lead to a correct answer.
So, it's back around the data tab.
Under the 'What If' drop down.
Something called Goal Seek.
Goal Seek, so we want to set cell.
B5 to $425, by changing cell.
B1 So, that's how Goal Seek works.
When I click [ OK ]. It starts honing in, on a value.
It'll do it in less than a second.
Bam! It's done.
Alright! So, 22384.93. Click [ OK ], to accept that and we've now backed into it.
Now, notice they did not change the formula at all.
The formula still there the model still intact.
We could still continue to play, 'What-If' analysis.
But, it finds the right input cell, to lead to that output cell, very very quickly.
A great tool back here on the data tab.
Hey! I want to thank you for stopping by.
We'll see you next time for another netcast, from MrExcel.
Excel in Depth, chapter 26.
Goal Seek.
Hey! Welcome back to the MrExcel netcast.
I'm Bill Jelen.
Well, we're working through, the Excel in Depth, book. Chapter 26.
Talking about some, what if tools...
I have a simple little model here where I can figure out the price of the car.
Want to pay for over 60 months, 5.25% interest rate and, what the monthly payment would be?
As uses the PMT function.
We're not here to talk about the PMT function.
I'm trying to get this car.
But, my problem is my budget only handles $425 and so I can start to try and find the price of the car, that it would yield $425.
Just using brute force I can, for example plug in 20000 and that's too low.
So, maybe then try 22500, a little bit too high.
Just keep going back and forth and back and forth.
But, there's a much, much faster way to go.
Anytime you have a model like this, where you have input cells that lead to a final value.
We can have Excel find the right input value, to lead to a correct answer.
So, it's back around the data tab.
Under the 'What If' drop down.
Something called Goal Seek.
Goal Seek, so we want to set cell.
B5 to $425, by changing cell.
B1 So, that's how Goal Seek works.
When I click [ OK ]. It starts honing in, on a value.
It'll do it in less than a second.
Bam! It's done.
Alright! So, 22384.93. Click [ OK ], to accept that and we've now backed into it.
Now, notice they did not change the formula at all.
The formula still there the model still intact.
We could still continue to play, 'What-If' analysis.
But, it finds the right input cell, to lead to that output cell, very very quickly.
A great tool back here on the data tab.
Hey! I want to thank you for stopping by.
We'll see you next time for another netcast, from MrExcel.
