While Excel's Scenario toolbar can be a powerful analysis tool, clicking through all the menus needed to set up a scenario is often clumsy and time consuming. Excel provides a tool that allows you to create a scenario in two steps. First, you will need to place the tool on your toolbar. Follow these steps:
- Go to Tools | Customize.
- On the Commands tab, select Tools under Categories.
- In the Commands box, navigate to the Scenario: tool which has a drop-down box.
- Click and drag the Scenario tool to the Standard toolbar.
Suppose you are planning a seminar and would like to know how much tuition you will need to charge in order to make a profit. First, you should follow these steps to set up a worksheet:
- In A1 enter Instructional Cost Per Hour.
- In A2 enter Hours Per Seminar.
- In A3 enter Tuition.
- In A4 enter Number of Attendees.
- In A5 enter Total Seminar Cost.
- In A6 enter Tuition Charged Per Seminar.
- In A7 enter Total Profit Per Seminar.
- In B5 enter =B1*B2.
- In B6 enter =B3*B4.
- In B7 enter =B6-B5.
Then, follow these steps to create two scenarios, one showing 10 attendees and the second showing 20 attendees:
- Enter 50 in B1.
- Enter 3 in B2.
- Enter 100 in B3.
- Enter 10 in B4.
- Select B1:B4.
- Click in the Scenario: drop-down box, type Minimum Attendees, and press [Enter].
- Enter 20 in B4.
- Select B1:B4.
- Click in the Scenario: drop-down box, select the current scenario, type Maximum Attendees, and press [Enter].
You can now view each scenario by clicking the drop-down arrow in the Scenario: tool and selecting a scenario from the list. If you need to delete a scenario, go to Tools | Scenario, select the scenario from the list, click the Delete button, and then click OK.
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