Implementing the Solver feature in Excel: In the last video we showed how to get the input value of the English marks by using Goal Seek. Again, here we have a student who has taken two examinations – Physics and Chemistry. Now he knows that he can score well in Maths. He has been scoring consistently well in Maths and his marks always lie between 90 and 98. His weak point is the English language. Here he has always been able to score around 60.Using this data can we find a solution using Solver? Watch the video below to see how Solver can provide a solution in a more sophisticated way than Goal Seek. Also, last time we used Goal Seek to find a solution to the Equal Monthly payments on a loan taken. Can Solver provide a better or an alternative solution taken into account some of the loan amount, loan period and the interest rate constraints? Yes, indeed it can. You will also observe in the training video that you can apply different ‘what-if’ scenarios using Solver and come closer to a better solution.
Note: The video is about 28 MB so please have patience with the download and play.
Introduction to optimization with the Excel Solver tool