Goal Seek in Excel - Cheat Sheet & Quick Revision

Recall & Review

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What is Goal Seek in Excel?

Goal Seek is a tool in Excel that helps you find the input value needed to reach a specific result in a formula. It works backward from the desired output to find the right input.

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How do you access Goal Seek in Excel?

You can find Goal Seek under the Data tab, in the 'What-If Analysis' group. Click 'What-If Analysis' and then select 'Goal Seek'.

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What are the three inputs you must provide when using Goal Seek?

1. Set cell: The cell with the formula you want to reach a goal for.<br>2. To value: The target result you want.<br>3. By changing cell: The cell Excel will change to reach the goal.

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Can Goal Seek change multiple cells at once to reach a goal?

No, Goal Seek can only change one cell at a time to find the input value that achieves the desired result.

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Give a real-life example where Goal Seek can be useful.

If you want to find out how much you need to sell to reach a certain profit, you can use Goal Seek to change the sales number until the profit formula hits your target.

Where do you find Goal Seek in Excel?

A Formulas tab > Function Library > Goal Seek

B Home tab > Clipboard > Goal Seek

C Insert tab > Charts > Goal Seek

D Data tab > What-If Analysis > Goal Seek

Goal Seek is located under the Data tab in the What-If Analysis menu.

What does the 'Set cell' mean in Goal Seek?

A The cell with the formula you want to reach a target value

B The cell you want to change

C The cell where you enter the target value

D The cell that contains raw data

'Set cell' is the cell with the formula whose result you want to set to a specific value.

How many cells can Goal Seek change to reach the goal?

A One

B Two

C Multiple

D None

Goal Seek can only change one cell at a time to find the input value.

If you want to find the sales needed to get $1000 profit, which cell do you change in Goal Seek?

A Profit cell

B Sales cell

C Cost cell

D Tax cell

You change the sales cell to find the sales number that results in $1000 profit.

What type of problem is Goal Seek best for?

A Creating charts

B Finding multiple unknowns

C Finding one input value to reach a target output

D Sorting data

Goal Seek is designed to find one input value that makes a formula reach a specific result.

Explain how you would use Goal Seek to find the price needed to reach a target revenue.

Think about which cell has the formula and which cell you want to adjust.

Describe the limitations of Goal Seek and when it might not work well.

Consider what Goal Seek can and cannot do.