…You can use solver to find solutions to complex problems with a lot inputs.…Organizing your worksheet properly helps you track your input…values and create rules that are easy to interpret.…Solver models can have a lot of moving parts so I'll…use the worksheet I've already created and the SolverModel.xlsx sample file.…You can find that file in the Chapter 3 folder of your exercise files archive.…This worksheet…is divided into two basic areas.…At the top in cells B1-F10 I have the data and calculation.…
And in the bottom section in cells F12 through F16.…I have information about constraints that I want to put into the solver model.…So lets take a quick look at the data in the top few rows of the worksheet.…The scenario I'm assuming is that a company…has sent out coupons that gives customers a certain…discount on an item, and that item costs $12.…Each row in the top part of the worksheet contains information about an offer.…So, I have to the offer code, the discount, the assumed redemption rate,…and the number of coupons of that type that has been mailed out.…
- 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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