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Use Goal Seek to find the value for cell C2 that will result in a value of $550,000 for cell B15. Accept the solution.

Question

Use Goal Seek to find the value for cell C2 that will result in a value of $550,000 for cell B15. Accept the solution.

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Solution

Sure, here are the steps to use Goal Seek in Excel:

  1. Open your Excel workbook and select the worksheet where you want to use the Goal Seek function.

  2. Click on the "Data" tab in the ribbon at the top of Excel.

  3. In the "Forecast" group, click on "What-If Analysis".

  4. A drop-down menu will appear. Select "Goal Seek" from the list.

  5. In the Goal Seek dialog box, you need to fill in the following fields:

    • "Set cell": This is the cell that you want to change to a specific value. In your case, it's cell B15.
    • "To value": This is the value that you want the set cell to have. In your case, it's $550,000.
    • "By changing cell": This is the cell that Excel will change to reach the goal. In your case, it's cell C2.
  6. After filling in these fields, click "OK".

  7. Excel will then calculate and find the value for cell C2 that makes cell B15 equal to $550,000. If Excel finds a solution, it will display a Goal Seek Status dialog box with the results.

  8. Click "OK" to accept the solution and close the dialog box. Excel will automatically update the value in cell C2.

Remember, Goal Seek might not find a solution if it's not possible to reach the goal with the given constraints.

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