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Business Calculus with Excel

Section C.4 From Section 3.5 - An introduction to Solver 3.5

Solver can be thought of as a more powerful version of GoalSeek 1.6. If it is installed, it will be on the Analysis section of the Data tab 3.5.3. If is is not installed, it is easiest to google "Install solver Excel" to get instructions that work with your operating system and version of Excel
As with Goal Seek, we can have Excel find the input value that makes a function have a desired output value. The setup of Solver 3.5.4 is a bit different thant the setup of Goal Seek 1.6.2. The function to be set is the "objective function". The objective functions can depend on more than one cells. By default, it assumes variables should have non-negative values.
While Goal Seek only let you find where a function reached a specified value, Solver also lets you search for a local maximum 3.5.5 or a local minimum 3.5.7. There is a screencast of basic solver functionality 3.5.2. As with Goal Seek, Solver’s algorithm can be thought of as rolling downhill to the hearest answer. It can be confused if the function has discontinuities or bends too frequently.
Solver allows you to add constraints to the problem 3.5.6. It should be noted, that by default Solver will assume unconstrained variables are nonnegative.
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