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What is the difference between a problem where only Goal Seek can be used and one where only Solver can be used?

Answer :

Final answer:

Goal Seek and Solver are tools used in Microsoft Excel. Goal Seek computes a single answer for a single variable in a one equation, ideal for simpler problems. While Solver works with more complex issues that involve multiple constraints and variables for optimization.

Explanation:

The Problem where only Goal Seek can be used is generally simpler than those where Solver is required. Goal Seek is a tool in Microsoft Excel that finds a single answer for a single variable in a single equation. For instance, if you are looking to find the interest rate needed to reach a particular savings goal, Goal Seek would be suitable.

On the other hand, Solver is used for more complex situations involving multiple constraints and variables. It's an Excel tool that performs multi-variable optimization. For instance, if you needed to figure out how to maximize a company's profits by altering multiple different factors, like price, production volume, etc. with several constraints, Solver would be the way to go.

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