Useful for business owners or economics students
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An often overlooked feature of Excel is the What-If Analysis tool, which allows you to explore different scenarios without changing the values in your spreadsheet. This feature is especially useful for economics and management students and business owners, as it allows you to see how different values affect models, formulas, and expected profits.
Let's say you have a small business that sells widgets, and you've determined that you'll make $10 profit for each widget you sell. To calculate your profit from selling these widgets, you'll create a worksheet in Excel that looks like this:
Note that the number in cell A3 represents the number of widgets sold and the number in B3 represents the profit per widget sold. The number in C3 is calculated using the following formula:
