Microsoft Excel 2003

Data Analysis

Larry F. Vint, Ph.D

lvint@niu.edu
815-753-8053

Technical Advisory Group

Customer Support Services
Northern Illinois University
120 Swen Parson Hall
DeKalb, IL 60115

© Copyright 2004 Northern Illinois University Information Technology Services

 Microsoft Excel 2003
Data Analysis

Using Excel’s Data Analysis Tools 2

Tables 6

Evaluating Trends 11

Using Excel's Goal Seek 17

Using Solver 20

Creating Scenarios 23

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 Using Excel’s Data Analysis Tools
Excel includes a number of add-in tools to assist with a number of data handling,
reporting and analysis functions.
1. Click on the worksheet tab labeled Data Analysis
2. Click on the Tools pull-down menus
3. Click on Add-Ins
4. Check Analysis ToolPak as in Figure
DA-01
5. Also Check Solver as we will be
using the Solver in a later exercise
6. Click OK
This unpacks the chosen Excel Add-in tools
and makes them available for use. If the Add-
in list is empty, there may have been a limited
installation of MS Office. If this is the case,
the MS Office CDs will be needed to install
these Add-in tools.
7. Click on the Tools pull-down menus
again Figure DA-01

8. Click on Data
Analysis
9. Select Descriptive
Statistics from the
Analysis Tools as in
Figure DA-02
10. Click OK

Figure DA-02
The Descriptive Statistics
box is shown in Figure DA-03.

Figure DA-03
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 11. Click on the contract button for the Input Range box.
12. Highlight B1 through C7
13. Click the expand button
14. Check the Labels in First Row box
15. Click on the contract button for the Output Range box
16. Click on cell A11
17. Click the expand button
18. Check the Summary
Statistics box
The Descriptive Statistics window
should now look like Figure DA-04.
19. Click OK
20. The output will be
crowded so highlight the
column headings for
columns A through D
21. Position the cursor over
the right-hand border of
one of the highlighted
columns and double-click Figure DA-04
to increase the width of
each column to the widest cell in the column.

The resulting Descriptive Statistics should look like Figure DA-05.

Figure DA-05

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Let’s try another analysis. Regression statistics can be useful in evaluating past
trends and predicting future consequences. Using the data in the Data Analysis
worksheet, let’s compute the regression of Expenditure increases as a function of
the number of Students.
22. Click on the Tools pull-down menus again
23. Click on Data Analysis
24. Select Regression from the Analysis Tools
25. Click OK
26. Click on the contract button for the Input Y Range box.
27. Highlight B1 through B7
28. Click the expand button
29. Click on the contract button for the Input X Range box.
30. Highlight C1 through C7
31. Click the expand button
32. Check the Labels box
33. Click on the contract button for the Output Range box
34. Click on cell E1
35. Click the expand button
The Regression window should now look like Figure DA-06.
36. Click OK
37. The output will be
crowded so highlight the
column headings for
columns E through M
38. Position the cursor over
the right-hand border of
one of the highlighted
columns and double-click
to increase the width of
each column to the
widest cell in the column.

The resulting Regression

Statistics should look like Figure DA-06
Figure DA-07.

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 Figure DA-07

The coefficient for STUDENTS, 5069.547647, indicates that every student adds
$5,069.55 to EXPENDITURES and that even with no students there would be
$12,763.11 in EXPENDITURES. Let’s use these coefficients to set up an
equation to predict EXPENDITURES based upon student numbers.
39. Click on cell P3
40. Type =
41. Click on cell F17
42. Type +
43. Click on cell F18
44. Type *
45. Click on cell O3
46. Press Enter
These steps have created a prediction equation based upon the regression
analysis that can be used to predict expenditures for varying numbers of
students. Care must be taken in interpreting results greatly beyond the range of
existing data; i.e. the prediction may be reasonable for 20 students, but not
realistic for 100 students.
47. Click on cell O3
48. Type 20
49. Press Enter
The equation predicts that if we had 20 students we could expect expenditures to be $114,
154.06. The above examples illustrate some of the types of statistical analysis that can be
performed with Excel’s Add-in Analysis ToolPak.

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 Tables
Most people familiar with databases will mistakenly assume the Tables feature in
Excel is used similarly but they are mistaken. The Tables feature in Excel is
another What-If analysis tool that displays the result of a formula with different
sets of input values.
For this example we will create a formula that determines the monthly payments
for the principal of an investment given a fixed interest rate. We will use the
PPMT function that is one of the financial functions provided by Excel to calculate
the monthly payments to be made on an investment over a specified period of
time. We will enter the interest rate,
Let’s first go to the Payment Table worksheet for the function and ensuing table.
1. Click on the Payment Table worksheet tab
Let’s enter the input values for the function first and then create the function.
2. Click on cell B1
3. Type 7.5
4. Click on cell B2
5. Type 5
6. Click on cell B3
7. Type 18000
These three values will be used by the PMT function to calculate the monthly
payments. Let’s enter the formula.
8. Click on cell B6
9. Click on the Paste Function toolbar button
10. From popup Insert Function window click on the Financial category
from the select a category pick
list
11. Scroll down the list box labeled
Select a function until you see
the PMT function and click on it
as in Figure PT-01
12. Click on the OK button
The formula box appears listing the
arguments needed by the PMT function.
The three required arguments, Rate,
Nper, and Pv, are indicated in boldface.
Two optional arguments are Fv and
Type. Figure PT-01

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 13. To better understand the arguments needed for the PMT function click
on Help on this function.
We can now see that Fv and Type are the future value and payment method,
respectively. The future value is the balanced desired after the last payment was
made. If no argument is supplied to this argument the default is zero. The Type
argument is used to indicate when the payment is made. A value of True
indicates the payment is made at the beginning of the period and a value of
False or if this value is not supplied the payment is made at the end of the period.
We will supply the three required arguments since we want to attain a zero
balance after all payments are made and the payments are made at the end of
each pay period.
14. Click within the box labeled Rate
15. Type (B1/12)/100
Cell B1 contains the annual interest rate. Since we wish to determine the
monthly payments we must express on all arguments in monthly units. So
dividing the annual rage by 12 months will give us the monthly interest rate. We
then divided the monthly interest rate by 100 to express on the percentage as a
decimal number.
16. Click within the box labeled Nper
17. Click on the Contract dialog box button to the right of this box
The formula box will be temporarily suppressed and the box containing the Nper
argument is displayed. Whenever we click on a cell Excel will fill the cell address
into the Nper argument box.
18. Click on cell B2
The cell address B2 is placed within the Nper argument box.
19. Click on the Expand dialog box button
The Nper argument box will contain the cell address B2 that contains the pay
period that is expressed in years. Just like the Rate argument we must express
the Nper argument in months. So we must multiply the contents of cell B2 by 12.
20. Click on the End key to
move the insertion point
to the end of the
argument
21. Type *12
The Nper argument should now
read B2*12.
22. Click within the box
labeled Pv and click on
the Contract button

Figure PT-02
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 23. Click on cell B3 and then click on the Expand dialog box button
The Pv argument is the principal value. We will not supply any arguments for the
Fv and Type arguments because we want the future value of this investment to
equal zero when the pay period ends and we are paying at the end of each
month, which are the defaults when an argument is not supplied. Figure 4 shows
the formula box now. Compare your formula box to the figure and correct any
mistakes. The value of each argument is evaluated and displayed to the right of
the argument boxes. The monthly interest rate, which is expressed as a decimal
value, is .00625. The number of periods is 60 months and the principal value is
18000.
24. Click OK
A negative value of $360.68 is displayed in cell B6. The payment is negative
because it is the amount we must pay each month to pay off an $18,000
investment at 7.5% for 5 years.
Suppose you want to see how the monthly payments will change when the
annual interest rate and pay period are modified. We can set up a table to
perform this what-if analysis. The table will display the input parameters along
the top row and left-most column with each cell within the table displaying the
formula result for each combination of input values.
To set up the table, the formula must be in the top, leftmost column. Then the
input values are entered on the same row beginning in the next cell to the right of
the formula and on the same column beginning with the next cell below the
formula.
25. Position the cursor on cell B7 then continuously hold the left mouse
button down
26. Drag the mouse pointer down to cell B9 and then release the mouse
button
The cell range B7:B9 should be highlighted.
27. Type 3 and press Enter
28. Type 4 and press Enter
29. Type 5 and press Enter
We will use the leftmost column to supply different number of pay period values
to the PMT function.
30. Now position the cursor on cell C6 then continuously hold the left mouse
button down
31. Drag the mouse pointer to cell D6 and then release the mouse button
The cell range C6:D6 should be highlighted.
32. Type 6 and press Enter
33. Type 6.5 and click on the fill handle of the highlighted range C6:D6

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 34. Continuously holding down on the left mouse button, drag the fill handle
to column K, until the number 10 appears, and release the mouse button
We allowed Excel to use the pattern of 0.5 percent increases to set up a list of
interest rates from six to ten in 0.5 increments. Now we can use row six to
supply these different interest rate values to the PMT function. Figure PT-03
shows the column and row input values for this table along with the function. To
set up the What-if table showing what payments would be across this range of
payment periods and interest rates:
35. Position the cursor on cell B6 and hold the left mouse button down

Figure PT-03
36. Drag the mouse pointer to cell K9 and release the mouse button
The cell range B6:K9 should be highlighted and if is not then repeat steps 35 and
36 above. You must highlight the entire cell range that will display the results of
the table and the formula must be in the top, leftmost cell of the table.
37. Click on Data in the dropdown menus
38. Click on Table
A dialog box entitled Table appears with two options labeled Row input cell and
Column input cell. We must specify the cell range containing the row input
values within the table and the cell range containing the column input values.
39. Click within the box labeled Row input cell
40. Click on the Contract button
41. Click on cell B1
The cell address $B$1 should be filled into the Row input cell box. Cell B1
contains the annual interest rate and the table will replace the interest rate using
the five values entered in cells C6, D6, E6, F6, and G6.
42. Click on the Expand button to return to the Table dialog box
43. Click within the Column input cell box
44. Click on the Contract button
45. Click on cell B2

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The cell address $B$2 is filled into the Column input cell box. Cell B2 contains
the number of periods and Excel will use the values supplied in cells B7, B8, and
B9 to for the number of periods.
46. Click on the Expand button to return to the Table dialog box
47. Click on the OK button
The table should result like Figure PT-04. Cell F9 displays the result of the PMT
function using an annual interest rate of 7.5% and a pay period of 5 years.

Figure PT-04

This is the same result as cell B6 because these were the original values
supplied to the function. Now you can compare the different payment values
across different interest rates and pay periods. For example, cell E7 shows the
monthly payment amount if the interest rate is 7% and the pay period is only 3
years. Cell G8 shows the monthly payment amount if the interest rate is 8% and
the pay period is 4 years. The formatting of the monthly payments in the newly
created table can be easily set using the Format Painter.
48. Click on cell B6
49. Click on the Format Painter
50. Swipe the Format Painter across cells C7 through K9
The table will now look like Figure PT-05.

Figure PT-05

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 Evaluating Trends
Excel has a number of tools to assist in analyzing trends in data. Trend analysis
can be utilized to predict future results. In this section we will use Excel’s
Trendline tool to analyze several possible trends in a department’s tuition
income. We will then utilize Excel’s Linear and Growth Trend tools to predict
future tuition income based upon past results.
1. Click on the Trends worksheet tab
A chart has been created from the data range B7:C11. We will add a series of
trendlines to this chart and evaluate how well they describe the existing data.
2. Right-click on one of the blue columns representing a data point in the
chart
3. Click on Add Trendline from the popup menu as shown in Figure ET-01

Figure ET-01

Figure ET-02 shows the types of

trendlines that can be to the chart.
Excel offers six choices of types
of trendlines that might be applied
to charted data. We will examine
visually how well each fits the
data. We will also display the
statistical formulas Excel has
computed to calculate data points
on the trendline and the R2 values
which statistically represent how
well the trendline formula
describes the data.
4. Click on the Linear box
as in Figure ET-02
Figure ET-02

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 5. Click OK
A linear trendline has been applied to the chart.
6. Right-click on the trendline. The menu that pops up will allow you to
either Format trendline or Clear the trendline
7. Click on Format Trendline
The Format Trendline window that pops up has three tabs. The first, Patterns,
will allow you to change the line style, color and weight of the trendline. The
second, Type, will allow you to change the type of trendline being established.
8. Click on the third, the Options tab
The Options window in Figure ET-03
will allow us to apply a custom
trendline name, forcast forward or
backward, reset the intercept on the
y-axis, display the trendline equation
on the chart and display the R-
squared value on the chart:
9. Check the Display equation
then check the Display R-
squared value boxes
10. Click OK
The formula y = 146.88x + 231.68 Figure TL6
and R2 = 0.9831 appears above the
trendline (Figure ET-04). This is the
Figure ET-03
linear regression formula Excel has
calculated to describe the tuition
income data. The R2 value is
the percent of variation in the
data that is described by the
regression equation. A value of
1.0 means the equation can
completely account for variation
in the data. The smaller the R2
value the less useful the
equation is in describing the
data.
11. Click in cell C31 (beside
Linear) Figure ET-04
12. Type in value .9831
13. Press Enter

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Since it is so easy to allow Excel to compute various types of regression
equations we will proceed to look at each of the various types of equations and
enter their R2 values beside the Trendline Type name in the table in cells B31 to
C36.
14. Right-click on the trendline.
15. Click on the Type tab
16. Choose the next Trendline Type
17. Click OK
18. Click in the cell in column C corresponding to the trendline type and
enter the R2 value
19. Repeat steps 28 through 32 until R2 values for all trendline types have
been calculated.
Note that the Moving Average does not compute a regression equation or R2
value. This trendline type is based upon the moving average, not a regression
equation; therefore, no regression equation or R2 value is relevant to this
trendline type. Note in the Trendline Descriptive Accuracy table (Figure ET-05)
that all of the variation in the data is described by the exponential equation. The
second degree polynomial equation also does an excellent job of describing the
data, accounting for 99.99 percent of the variation. Different datasets will yield
different results.

Figure ET-05

Let’s use the exponential equation to forecast for the next ten years.
20. Right-click on the trendline.
21. Click on the Type tab
22. Choose the Exponential trendline
type
23. Click on the Options tab
24. Click in the Forecast Forward: box
and enter 10 as in Figure TL9
25. Click OK

Figure ET-06

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The result of Excel’s forward forecasting using the exponential equation is shown
in Figure ET-07. This gives us a clear visual image of predicted future tuition
income. However, we have no accompanying data points to use for other
evaluation purposes. To illustrate methods compute these data points proceed
to the next page.

Figure ET-07

One method of predicting future data points in our data is to use the regression
equation that Excel has computed for us. To do so we must understand that in
our data the X in Excel’s equation represents an incremental counter starting at
one and ending at five for the five data points in our data. The value of e (the
base of natural logarithms) is 2.71828183. The * is used in Excel to multiply
values. The ^ is used in Excel to raise values to a power. The formula Excel
displays as y = 327.68e0.2231x is already coded in cell E7 as =327.68*
2.71828183^(0.2231*D7). In the following steps we will use Excel’s exponential
prediction equation calculated from our data y = 327.68e0.2231x to predict future
data points. First we must unhide cell E7.
26. Highlight column headings C through F
27. Right-click then click Unhide in the popup menu
28. Click in cell E7
29. Position the cursor over the fill handle
30. Hold the left mouse button down and drag the fill handle to cell E21 and
release it

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The computed data points now appear in columns E8 through E21 (Figure ET-
08).

Figure ET-08

If linear or growth equations adequately describe the data there is an even easier
method of computing future data points.
31. Click on cell B7
32. Highlight cells B7 through B11 and position the cursor over the fill
handle
33. Hold the left mouse key down and drag the fill handle to cell B21 and
release it
34. Click on cell C7
35. Highlight cells C7 through
C11 and position the
cursor over the fill handle
36. Hold the RIGHT mouse
key down and drag the fill
handle to cell C21 and
release
The Trends menu that pops up
(Figure ET-09) will allow the choice
of either a Linear Trend or Growth
Trend to fill in the future data
points. Since our data was best
described by either an exponential
or second degree polynomial
regression equation we should
select the Growth Trend.
37. Click on Growth Trend

Figure ET-09

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The results (Figure ET-10) using are very close to those calculated using the
exponential equation; however, they were more easily obtained. Note: If we had
held down on the LEFT mouse button instead of the RIGHT mouse button as we
were dragging the fill handle, a linear trend would have been used to populate
our future data points by default.

Figure ET-10

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 Using Goal Seek

Goal Seek is one of Excel’s what-if tools. Goal Seek allows you to
• Specify a single adjustable cell.
• Specify a target value that is dependent upon the adjustable cell.
• Generate a solution by manipulating the value of the adjustable cell.
• Generate a single solution to a problem
Goal Seek is a relatively easy tool to learn how to use and is a useful tool for
finding solutions to complex problems involving a single variable. We will use it
to find the coefficient required to reach a Department’s goals for growth in tuition
income over the next ten years. The objective is to predict the coefficient of
growth (x) required to achieve a ten-year goal and compute the annual tuition
targets leading to that objective. It is assumed that the department has
$1,000,000 of tuition income in the current year and that tuition income for each
future year will increase by (x) times the previous year’s tuition total. This data
and accompanying chart are present in the Goal Seek worksheet.
1. Click on the Goal Seek worksheet tab
We want use the Goal Seek tool to compute the growth rate required to reach a
goal of $10,000,000 of tuition income in the department by year 2011. The
current tuition income in 2002 is $1,000,000. Over the past five years an annual
growth rate of 125% has been achieved. Using this growth rate the tuition levels
over the next ten years has been predicted in the table in the worksheet and
charted in the accompanying chart. Tuition has been coded to thousands of
dollars. This predicts the department will fail to reach the $10,000,000 tuition
income target in 2011. We will use Goal Seek to determine what the future
growth rate must be to reach the 2011 objective.
2. Click on cell C17.
This is the location of our objective.
3. Click on Tools in the dropdown menus
4. Choose and click on Goal Seek
The Goal Seek box (Figure GS-01) will appear.
Our target cell is populated in Set cell: because
we clicked on it (C16) before opening Goal Seek
5. Click in the To value: box and enter
12000, the number of thousands of
dollars equivalent to the goal of
$12,000,000
Figure GS-01

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 6. Enter B1 in the By changing cell
box as in Figure GS-02.
7. Click OK

Figure GS-02

The Goal Seek Status window (Figure GS-03) will announce that a solution has
been found and that a Current value of $12,000 (thousands) matched the Target
value of 12000. This value has been placed in cell C16. Notice that the tuition
values for other years have not yet been changed and the chart does not yet
reflect the use of the new coefficient of growth in cell B1.
8. Click OK to accept the
solution of 128.21% as
the coefficient of growth
necessary to achieve the
target of $12,000,000
tuition income in year
2012. The newly
calculated coefficient is
in cell B1.
Figure GS-03
Now both the table and the chart reflect the use of the newly computed growth
rate in the modified values now present for each year. Next we want to visit an
alternative way to accomplish the same result.
9. Click the undo button on Excel’s standard Toolbar
10. Position the cursor over the 2012 bar.
In the Department Tuition Income
chart and click the left mouse
button twice. Only the 2012 bar
should be active as identified by
the size handles on both ends and
in the middle.
11. Position the cursor over
the top of active 2012 bar
and hold down the left
mouse button when the
two pointed arrow appears
as in Figure GS-04.
Figure GS-04

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 12. Continuously hold down the left mouse button and drag the top of the
bar upwards until the number $12,000 appears then release
13. The Goal Seek box reappears with the Set cell: and To value: boxes
filled in (Figure GS-05). Enter B1 in the By changing cell:
14. Click OK
The Goal Seek Status window will again
announce that a solution has been found and
that a Current value of $12,000 (thousands)
matched the Target value of 12000. This
value has been placed in cell C17. Notice
that the tuition values for other years have
not yet been changed and the chart does not
yet reflect the use of the new coefficient of
Figure GS-05
growth in cell B1.
15. Click OK to accept the solution of 128.21% as the coefficient of growth
necessary to achieve the target of $12,000,000 tuition income in year
2011. The newly calculated coefficient is in cell B1.
Both the table and the chart again reflect the use of the newly computed growth
rate in the modified values now present for each year. For some this alternative
way to access Goal Seek through charts may be a more convenient approach.
Note: Goal Seek and the chart modification method of activating Goal Seek only
work with data cells created with consistent formulas that rely on single
adjustable cell.

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 Using Solver
Solver is one of Excel’s add-in tools that allows you to
• Specify multiple adjustable cells.
• Specify constraints on the values that the adjustable cells can have.
• Generate a solution that maximizes or minimizes a particular worksheet
cell.
• Generate multiple solutions to a problem
Solver is one of the most difficult of Excel’s components to learn, but is a very
powerful tool for finding solutions to complex problems involving multiple
variables. We will use it to find an optimal staffing problem for a Special Event.
The objective is to find the minimum number of staff that will need to start at
given hours of the workday. All staff are required to work shifts of three
continuous hours and that the hourly needs for staff are known. This data is
entered in the Solver worksheet (Figure SO-01).

1. Click on the
Solver worksheet
tab
2. Click in cell E15
3. Click on Tools in
the dropdown
menus
4. Click on Solver
The Solver Parameters
window will pop up. As we
want to minimize the
number of total staff
required for the Special
Event we will leave $E$15
in the Set Target Cell: as Figure SO-01
in Figure SO-02. Solver
allows us to change values
in multiple cells and apply
constraints to multiple
variables.

Figure SO-02

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 5. Click on the contract button in the By Changing Cells: box
6. Highlight cells E4 through E13
7. Click the expand button
8. Click on the Add button beside the Subject to the Constraints: box
The Add Constraint box pops up as in Figure SO-03. This allows us to place
limits or restrictions on the solutions; e.g. that Numbers Starting on a given Hour
not be less than zero.

Figure SO-03

9. Click on the contract button in the Cell Reference: box

10. Highlight cells F4 through F13
11. Click the expand button
12. Change the
constraint to >= from
the combo box pick
list
13. Click in the
Constraint: box and
enter 0 as in Figure
SO-04 Figure SO-04

14. Click OK
15. Make certain
the Min button
is checked and
that 0 is in the
Value of: box
as in Figure
SO-05

Figure SO-5

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 16. Click Solve
Solver will announce if it has found a solution in the Solver Results window. If
this case Solver has found a solution. Make sure the Keep Solver Solution button
is checked as in Figure SO-06.

Figure SO-06
17. Click OK
Solver has changed the adjustable cells in E4 to E13 to the solution it found for
minimizing the total number of staff that needs to be scheduled. As shown in
Figure SO-07, a total of 72 people need to be scheduled. The timing of when
varying numbers of staff must start their three-hour shifts has been optimized to
minimize the total number of staff that needing to be scheduled. At times
additional constraints must be assigned to insure that partial people or negative
numbers are rejected as solutions. If Solver fails to find a solution, recheck entry
parameters and constraints.

Figure SO7

Figure SO-07

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 Creating Scenarios

Scenarios are a tool Excel has to allow us to look and be able to recall the effects
of making multiple changes to cells affecting the results of our worksheet.
Excel's Scenario Manager feature makes it easy to automate your what-if
models. You can store different sets of input values (called changing cells by
Scenario Manager) for any number of variables and give a name to each set.
You can then select a set of values by name, and Excel displays the worksheet
by using those values. Next we will try out the Scenario Manager.
1. Click on the Scenario worksheet tab
2. Click on Tools in the dropdown menus
3. Click on Scenarios as in Figure SC-01
4. Click on Add in the Scenario Manager window
Shown in Figure SC-02

Figure SC-01

Figure SC-02

5. Click in the Scenario name: box of The Edit Scenario window that pops
up
6. Type in Loan_175_30_700
7. Click in the Changing cells: box
8. Click on the contact button
9. Click on cell C4
10. Type in a comma
11. Click on cell C6
12. Type in a comma
13. Click on cell C7
14. Click on the expand button

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 15. Uncheck the Prevent changes box
The Edit Scenario window should
look like Figure SC-03.
16. Click OK
In the Scenario Values window that
pops up (Figure SC-04)
16. Click OK
The Scenario Manager returns
17. Click Add to add a second
scenario
18. Type in Loan_175_15_700
in the Scenario name: box
19. Uncheck the Prevent
changes box
20. In the Scenario Values
Figure SC-03
window that pops up type 15
in the Loan_Term box
21. Click Add to add a third
scenario
22. Type in Loan_175_30_650
in the Scenario name: box
23. Uncheck the Prevent
changes box
24. In the Scenario Values Figure SC-04
window type 0.065 in the
Interest_Rate box
25. Click Add to add a fourth scenario
26. Type in Loan_175_15_650 in the Scenario name: box
27. Uncheck the Prevent changes box
28. In the Scenario Values window type 15 in the Loan_Term box
29. In the Scenario Values window type 0.065 in the Interest_Rate box
30. Click Add to add a fifth scenario
31. Type in Loan_160_30_650 in the Scenario name: box
32. Uncheck the Prevent changes box
33. In the Scenario Values window type 160000 in the Purchase_Price box
34. In the Scenario Values window type 0.065 in the Interest_Rate box

© Copyright 2004 Northern Illinois University Information Technology Services 24

 35. Click Add to add a sixth scenario
36. Type in Loan_160_15_650 in the Scenario name: box
37. Uncheck the Prevent changes box
38. In the Scenario Values window type 160000 in the Purchase_Price box
39. In the Scenario Values window type 15 in the Loan_Term box
40. In the Scenario Values window type 0.065 in the Interest_Rate box
41. Click OK
The Scenario Manager now looks like Figure SC-05

Figure SC-05
42. Click the Summary button
43. In the Scenario Summary window that pops up leave the Scenario
summary box checked
44. Click in the Result Cells box and highlight cells C10 through C13
45. Click OK
Excel has added a worksheet called Scenario Summary containing the results
of the various summaries we have built. (Figure SC-06).

Figure SC-06

© Copyright 2004 Northern Illinois University Information Technology Services 25