Solved

Match Each of the Following What-If Analysis Tools to Its

Question 73

Matching

Match each of the following what-if analysis tools to its most likely use:

Premises:

Responses:

Goal Seek

You want to compare best-case, worst case and most-likely case scenarios for a business decision.

One-variable data table

You want to know what interest rate you need to find to make a loan payment exactly $500 per month.

Two-variable data table

You want to compare the total interest paid on the lifetime of a loan with varying interest rates and terms.

Scenario Manager

You want to know how many products your production line can make with the least waste.

Solver

You want to compare different calculations like monthly payment and total interest paid on a loan with the different interest rates.

Premises:

Goal Seek

One-variable data table

Two-variable data table

Scenario Manager

Solver

Responses:

You want to compare best-case, worst case and most-likely case scenarios for a business decision.

You want to know what interest rate you need to find to make a loan payment exactly $500 per month.

You want to compare the total interest paid on the lifetime of a loan with varying interest rates and terms.

You want to know how many products your production line can make with the least waste.

You want to compare different calculations like monthly payment and total interest paid on a loan with the different interest rates.

Correct Answer:

Premises:

Responses:

Goal Seek

One-variable data table

Two-variable data table

Scenario Manager

Solver