…In the previous movie, I showed you how to create a one variable data…table to see how changing one value, such as a tax rate, affects a calculation.…In this movie, I will show you how to create a two variable data table, which…as the name implies, let's you try out a range of values for two formula inputs.…As my sample file, I will use tax and income, which you…can find in the chapter one folder of your exercise files archive.…This worksheet…contains a series of values. The first is taxable income in cell E4.…
Then I have the current tax rate.…In cell E3 I've listed the amount the tax rate could change.…To the right, starting in column F, I have my data table.…In cell F2, I have a formula that calculates the amount of tax due.…That multiplies the taxable income by the sum of the tax rate and the change.…I have the changing values for the tax rate here, in the cells…F3 through F5, so it can change by either one two or 3%.…And then I also have other values for taxable income.…
So instead of 14 million, like I have here in cell…
- Explain how to create a scenario in Excel.
- Identify the two input values that should be used to create a two variable data table.
- Recall what the Excel feature Goal Seek is used for.
- Recognize the three things that must be separated from one another to make reading a worksheet with multiple units easier.
- Describe the tools that Excel provides to manipulate data.
- Break down the steps required to recalculate a worksheet's formulas.
Skill Level Intermediate
1. Defining Scenarios and Data Tables
2. Creating Goal Seek and Solver Models
3. Creating a Configurable Model
4. Performing Monte Carlo Simulation
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