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DAY 11: EXCEL CHAPTER 8-10 Rahul Kavi September 24, 2013 1.

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Presentation on theme: "DAY 11: EXCEL CHAPTER 8-10 Rahul Kavi September 24, 2013 1."— Presentation transcript:

1 DAY 11: EXCEL CHAPTER 8-10 Rahul Kavi Rahul.Kavi@mail.wvu.edu Rahul.Kavi@mail.wvu.edu September 24, 2013 1

2 LAST CLASS Nested Functions Logical Functions Lookup/Reference Functions Filtering Functions One Variable What-If Analysis 2

3 TWO VARIABLE WHAT-IF Similar to one variable One variable goes in the first column, the other in the top row Can only calculate results for one formula (In one variable analysis you can do any number of formulas. We did individual payments and cumulative payments.) 3

4 TWO VARIABLE WHAT-IF EXAMPLE Setup your variables in the first column and top row Add a formula in the empty cell in the variable row and column Use the What-If Data Table tool, specifying both the row and column input cells –Data->Data Tools->What-If Analysis->Data Table 4

5 GOAL SEEK Goal seek allows you to alter one variable to obtain the desired result of a single equation Data->Data Tools->What-If Analysis->Goal Seek Example: –You want to buy a car for $15,000. You are able to obtain a 5 year loan at 6% APR. You would like your monthly payment to be $200. How large of a down payment must you make? 5

6 SCENARIO MANAGER Scenario Manager is a what-if analysis tool that allows you to define up to 32 scenarios to compare their effects on calculated results Data->Data Tools->What-If Analysis- >Scenario Manager Example: Profit calculations for a business based on units sold, production cost per unit, shipping cost per unit 6

7 ADDING SCENARIOS Data->Data Tools->What-If Analysis- >Scenario Manager Add… –Scenario name –Changing cells –Set values for each cell Example: –Best Case: 75,000 units, $38/unit production cost, $0.30/unit shipping cost –Likely Case: 50,000, $42.95, $0.5 –Worst Case: 25,000, $48, $0.75 7

8 WORKING WITH SCENARIOS Delete Edit Show Summary –Regular summary –PivotTable summary 8

9 SOLVER Solver is similar to goal seek, but it allows multiple input values to change Solver is an Add-In, so it must be loaded before you can use it –File->Options->Add-Ins->Manage: Excel Add- Ins-> Go… –Check “Solver Add-in”-> OK 9

10 SOLVER EXAMPLE Maximize profits for cabinet door manufacture by selecting how many of each door type to produce Changing Variables (green) Objective (blue) Constraints (red) 10

11 EXAMPLE CONTINUED Data->Analysis->Solver Specify Objective –Max, min, or specific value Specify cells to vary Specify constraints –Single cells or ranges –Include non-negativity constraints 11

12 SOLVING Chose a solving method: –GRG Nonlinear: guaranteed local optimal –Simplex LP: guaranteed global optimal, must be linear –Evolutionary: good solutions for non smooth functions Solve 12

13 HYPERLINKS Insert->Links->Hyperlink –Inserts a link to a: File/Document Web site Email address 13

14 3D FORMULAS 3D formulas are formulas that use references from other sheets –‘Worksheet name’!Range 14

15 TEMPLATES File->New-> –Recent Templates –Sample Templates –My Templates –Office.com Templates 15

16 CELL STYLES Home->Styles->Cell Styles –Existing Styles –New Styles 16

17 QUESTIONS This is the last lecture on Excel. If you have any questions you want answered before the exam, ask now. 17

18 NEXT CLASS Introductory Database concepts 18

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