Author Zaheer    Category Formulas     Tags ,

Software program is organized information with competent structure of the operating systems, programs, utilities and applications enabling this program to work for the users. It is organized and written by computer programmers with proper and significant codes and instructions in different special languages that can be understood by the computer. It includes licensing agreements and requirements. The documentation has comprehensive information about the design details, limitations, features and capabilities of software applications or systems.

Companies consequently use the computer languages by maintaining the large population of staffs due to its succession. The programmers often use Microsoft Excel functions and formulas and one of these functions is the PRICE function of Microsoft Excel. PRICE function returns the price face value of $100 of the security which pays interest on a periodic basis. The syntax for this function is “PRICE(settlement, maturity, rate, yld, redemption, frequency, basis)”. You should always remember that dates must be supplied using the DATE function.

There are companies that require setting of pricing and its quantity. It is the very common problem of many business executives nowadays. However, with the help of “Solver add-in utility”, it is much easier to analyze and set things straight. Thus, it helps many of them to decide how to price the services and goods and how many products must be produced. As it is known, solver is considered as the add-in utility; therefore, the users can easily load or install it in their computer before they start with their main task.

Setting the Main Problem

The first step that you should follow is to use the solver command in building a solver-friendly spreadsheet. It involves making a target cell to be the goal of one’s problem. Thus, worksheet contains other formulas and values using the variable cells and the target cell. Constraint is considered as the guiding principle or the limiting rule, which dictates on how the business runs.

Keep in mind that you have to name the key ranges and cells to make it easier in entering data within your spreadsheet through the name, define and insert command. The use of cells and ranges help you easily in reading the solver constraints.

Running the Solver

After the familiarization of the add-in utility and solving your problem, the step will show how to use the solver in determining the utmost weekly revenue for your business. Additionally, with the maximum revenue, solver add-in utility calculates the finest distribution in groups. These are the following steps in using the solver.

  • Click unto the target cell.
  • Select the tools solver. The dialog box of solver parameters will open.
  • Choose the text box then click cell G4 in inserting the “$G$4” which is the target cell.
  • Choose Max option, which follows the “Equal to” label due to find maximum value used for each target cell.
  • Click the button on your right end of the text box “by changing cells” to disintegrate the dialog box.
  • Keep in mind to use the “guess button” in previewing the result.

Solver Forecast Editing

In editing the solver forecast, follow the steps

  • Activate the spreadsheet that you have used previously.
  • Select the tools, solver
  • Choose the “value of” option then type 700 inside the text box to your right.
  • Click the “solve” button in finding solution with your forecasting problem.

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