Posted: 10/11/2010 9:27:12 PM EDT
I am looking for the way to solve equations in Excel. Specifically the equations are going to be Economics supply/demand equations. Furthemore, if there is a way to just graph equations entering in the equation to get a line that would be super. I have looked around the internet but haven't found a specific answer. I'm sure somewhere here is an Excel genius. 
|
|
Go to the main tab, then "insert", then "functions", then you have a drop down menu of about a million preset formulae to use. That or simply type =(whatever your formula is) in one cell, then use other cells to input data into the formula (assuming it's not a one time use). |
|
I assume you want to graph a demand curve and perhaps a supply curve.
In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. |
|
Quoted:
I assume you want to graph a demand curve and perhaps a supply curve. In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. You may be correct there my specific question is. Demand curve is P=-0.01Q+40,000 supply curve is P=0.002Q+10,000. Graph them on the same graph. I can create a graph from a table. However, to do that I believe I either need to solve or I may be able to plug and play here. Put in a certain number for q solve it and get p and create my table that way? I was just hoping that I could some how use excel to that for me or just graph the equation? |
|
Quoted:
Quoted:
I assume you want to graph a demand curve and perhaps a supply curve. In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. You may be correct there my specific question is. Demand curve is P=-0.01Q+40,000 supply curve is P=0.002Q+10,000. Graph them on the same graph. I can create a graph from a table. However, to do that I believe I either need to solve or I may be able to plug and play here. Put in a certain number for q solve it and get p and create my table that way? I was just hoping that I could some how use excel to that for me or just graph the equation? Plugging in some dummy values for Q this is what I got: 
All I did was pick a starting number for Q, and in the rest of the column the equation I dragged down was [=$A$2+A2], then in the Demand and Supply columns I input your functions and dragged the whole shebang down and then graphed it. |
|
Quoted:
Quoted:
Quoted:
I assume you want to graph a demand curve and perhaps a supply curve. In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. You may be correct there my specific question is. Demand curve is P=-0.01Q+40,000 supply curve is P=0.002Q+10,000. Graph them on the same graph. I can create a graph from a table. However, to do that I believe I either need to solve or I may be able to plug and play here. Put in a certain number for q solve it and get p and create my table that way? I was just hoping that I could some how use excel to that for me or just graph the equation? Plugging in some dummy values for q this is what I got: http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph.jpg So essentially just what I stated by plug and play that is what I can do? Is there a best way to do this to be precise or just the way you described? |
|
Quoted:
Quoted:
Quoted:
Quoted:
I assume you want to graph a demand curve and perhaps a supply curve. In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. You may be correct there my specific question is. Demand curve is P=-0.01Q+40,000 supply curve is P=0.002Q+10,000. Graph them on the same graph. I can create a graph from a table. However, to do that I believe I either need to solve or I may be able to plug and play here. Put in a certain number for q solve it and get p and create my table that way? I was just hoping that I could some how use excel to that for me or just graph the equation? Plugging in some dummy values for q this is what I got: http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph.jpg So essentially just what I stated by plug and play that is what I can do? Is there a best way to do this to be precise or just the way you described? That's the way I'd approach it. Also if you want to screw with people try 2 different y-axes. 
|
|
Quoted: I am looking for the way to solve equations in Excel. Specifically the equations are going to be Economics supply/demand equations. Furthemore, if there is a way to just graph equations entering in the equation to get a line that would be super. I have looked around the internet but haven't found a specific answer. I'm sure somewhere here is an Excel genius. For intro to econ stuff all the equations should be pretty easy. You shouldn't need more than a simple calculator to solve them. With that said, excel can solve some equations and you'll have to research how to do it. Google and the help box both describe how to use the solver. To graph a function you'll have to populate a column with X variable values that span the range you're interested in. In the next column you enter the = sign first then your equation, when you get to the X variable you click on the column you populated with X variable values. Next, hit enter and excel will solve the equation and spit out the Y value corresponding to the X variable. After you've got the Y value solved for the first cell you can drag it down to solve the rest of the Y values. When you have X and the corresponding Y values you can scatter plot them. You can select different scatter plots, some will connect the dots with smooth lines, others won't. Also, if you want you can insert a trend line. The trend line function will depend on the type of graph you have. |
|
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
I assume you want to graph a demand curve and perhaps a supply curve. In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. You may be correct there my specific question is. Demand curve is P=-0.01Q+40,000 supply curve is P=0.002Q+10,000. Graph them on the same graph. I can create a graph from a table. However, to do that I believe I either need to solve or I may be able to plug and play here. Put in a certain number for q solve it and get p and create my table that way? I was just hoping that I could some how use excel to that for me or just graph the equation? Plugging in some dummy values for q this is what I got: http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph.jpg So essentially just what I stated by plug and play that is what I can do? Is there a best way to do this to be precise or just the way you described? That's the way I'd approach it. Also if you want to screw with people try 2 different y-axes. http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph_MK1.jpg Hahah how would I go about doing it? and is the equation still correct? |
|
Quoted:
Quoted:
I am looking for the way to solve equations in Excel. Specifically the equations are going to be Economics supply/demand equations. Furthemore, if there is a way to just graph equations entering in the equation to get a line that would be super. I have looked around the internet but haven't found a specific answer. I'm sure somewhere here is an Excel genius. For intro to econ stuff all the equations should be pretty easy. You shouldn't need more than a simple calculator to solve them. With that said, excel can solve some equations and you'll have to research how to do it. Google and the help box both describe how to use the solver. To graph a function you'll have to populate a column with X variable values that span the range you're interested in. In the next column you enter the = sign first then your equation, when you get to the X variable you click on the column you populated with X variable values. Next, hit enter and excel will solve the equation and spit out the Y value corresponding to the X variable. After you've got the Y value solved for the first cell you can drag it down to solve the rest of the Y values. When you have X and the corresponding Y values you can scatter plot them. You can select different scatter plots, some will connect the dots with smooth lines, others won't. Also, if you want you can insert a trend line. The trend line function will depend on the type of graph you have. The problem is I have to display the graphs to my teacher via the internet and parsing a ti-89 graph is harder than excel. |
|
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
I assume you want to graph a demand curve and perhaps a supply curve. In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. You may be correct there my specific question is. Demand curve is P=-0.01Q+40,000 supply curve is P=0.002Q+10,000. Graph them on the same graph. I can create a graph from a table. However, to do that I believe I either need to solve or I may be able to plug and play here. Put in a certain number for q solve it and get p and create my table that way? I was just hoping that I could some how use excel to that for me or just graph the equation? Plugging in some dummy values for q this is what I got: http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph.jpg So essentially just what I stated by plug and play that is what I can do? Is there a best way to do this to be precise or just the way you described? That's the way I'd approach it. Also if you want to screw with people try 2 different y-axes. http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph_MK1.jpg Hahah how would I go about doing it? and is the equation still correct? The data is the same, the only difference is how it is displayed. 1. Graph your values 2. On the graph right click one of the data sets and select "format data series" 3. In "Series Options" select Plot Series On "Secondary Axis" |
|
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
I assume you want to graph a demand curve and perhaps a supply curve. In the first tab of your workbook create a 4 column table with column headings: supply quantity, supply price, demand quantity, demand price. In each cell type in the appropriate relationship, for example, if supply price was 1, supply quantity would be 10, or 10X (the formula), continue down the column. The do the same for the demand Q and P. When the table is complete, highlight the entire table, click on the graph icon, select a graph and your almost there. The rest is just fine tuning the graph to make it more respectable. Good luck. You may be correct there my specific question is. Demand curve is P=-0.01Q+40,000 supply curve is P=0.002Q+10,000. Graph them on the same graph. I can create a graph from a table. However, to do that I believe I either need to solve or I may be able to plug and play here. Put in a certain number for q solve it and get p and create my table that way? I was just hoping that I could some how use excel to that for me or just graph the equation? Plugging in some dummy values for q this is what I got: http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph.jpg So essentially just what I stated by plug and play that is what I can do? Is there a best way to do this to be precise or just the way you described? That's the way I'd approach it. Also if you want to screw with people try 2 different y-axes. http://i410.photobucket.com/albums/pp181/replicators_album/ARFCOM/Graph_MK1.jpg Hahah how would I go about doing it? and is the equation still correct? My problem is finding the data to put in the x and y columns. I can create a graph from that point in time but I'm not given a table here. Given my equations what would you suggest as the best values. Price is supposed to be on the vertical axis and quantity is on the horizontal axis. |
|
Quoted:
Quoted:
<Snip> My problem is finding the data to put in the x and y columns. I can create a graph from that point in time but I'm not given a table here. Given my equations what would you suggest as the best values. Price is supposed to be on the vertical axis and quantity is on the horizontal axis. I'm assuming Q is price, since I set up all my values dependent to what I put into the first Q cell, A2, using the equation [=$A$2+A2] it was pretty simple to mess with the values till only a few of the resulting values were negative. I'll send you my excel if you're interested. ETA: I used the first row as headers for the columns, in cell B2 was [=-0.01*A2+40000], and in cell C2 was [=0.002*A2+10000]. |
|
Quoted:
Quoted:
Quoted:
<Snip> My problem is finding the data to put in the x and y columns. I can create a graph from that point in time but I'm not given a table here. Given my equations what would you suggest as the best values. Price is supposed to be on the vertical axis and quantity is on the horizontal axis. I'm assuming Q is price, since I set up all my values dependent to what I put into the first Q cell, A2, using the equation [=$A$2+A2] it was pretty simple to mess with the values till only a few of the resulting values were negative. I'll send you my excel if you're interested. ETA: I used the first row as headers for the columns, in cell B2 was [=-0.01*A2+40000], and in cell C2 was [=0.002*A2+10000]. Q is the quantity demanded. and P is the price for both equations. |
|
Quoted:
Quoted:
Quoted:
<Snip> My problem is finding the data to put in the x and y columns. I can create a graph from that point in time but I'm not given a table here. Given my equations what would you suggest as the best values. Price is supposed to be on the vertical axis and quantity is on the horizontal axis. I'm assuming Q is price, since I set up all my values dependent to what I put into the first Q cell, A2, using the equation [=$A$2+A2] it was pretty simple to mess with the values till only a few of the resulting values were negative. I'll send you my excel if you're interested. ETA: I used the first row as headers for the columns, in cell B2 was [=-0.01*A2+40000], and in cell C2 was [=0.002*A2+10000]. Also what were you doing with cell A2, if you have the excel that would be superb maybe I could find out with out asking you. I can do a graph when given the table values but I am having a hard time finding the data from an equation itself. |
|
Quoted:
Quoted:
Quoted:
Quoted:
<Snip> My problem is finding the data to put in the x and y columns. I can create a graph from that point in time but I'm not given a table here. Given my equations what would you suggest as the best values. Price is supposed to be on the vertical axis and quantity is on the horizontal axis. I'm assuming Q is price, since I set up all my values dependent to what I put into the first Q cell, A2, using the equation [=$A$2+A2] it was pretty simple to mess with the values till only a few of the resulting values were negative. I'll send you my excel if you're interested. ETA: I used the first row as headers for the columns, in cell B2 was [=-0.01*A2+40000], and in cell C2 was [=0.002*A2+10000]. Q is the quantity demanded. and P is the price for both equations. You'll have an additional column in your spreadsheet then. I'm an idiot. |
|
Quoted:
Quoted:
Quoted:
Quoted:
<Snip> My problem is finding the data to put in the x and y columns. I can create a graph from that point in time but I'm not given a table here. Given my equations what would you suggest as the best values. Price is supposed to be on the vertical axis and quantity is on the horizontal axis. I'm assuming Q is price, since I set up all my values dependent to what I put into the first Q cell, A2, using the equation [=$A$2+A2] it was pretty simple to mess with the values till only a few of the resulting values were negative. I'll send you my excel if you're interested. ETA: I used the first row as headers for the columns, in cell B2 was [=-0.01*A2+40000], and in cell C2 was [=0.002*A2+10000]. Also what were you doing with cell A2, if you have the excel that would be superb maybe I could find out with out asking you. I can do a graph when given the table values but I am having a hard time finding the data from an equation itself. It makes it easy to drag the number down and have it increase by a proportional value when changing the numbers by large magnitudes. I started off at Q=10 in A2, and ended with A2's Q=100000. |
|
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
<Snip> My problem is finding the data to put in the x and y columns. I can create a graph from that point in time but I'm not given a table here. Given my equations what would you suggest as the best values. Price is supposed to be on the vertical axis and quantity is on the horizontal axis. I'm assuming Q is price, since I set up all my values dependent to what I put into the first Q cell, A2, using the equation [=$A$2+A2] it was pretty simple to mess with the values till only a few of the resulting values were negative. I'll send you my excel if you're interested. ETA: I used the first row as headers for the columns, in cell B2 was [=-0.01*A2+40000], and in cell C2 was [=0.002*A2+10000]. Also what were you doing with cell A2, if you have the excel that would be superb maybe I could find out with out asking you. I can do a graph when given the table values but I am having a hard time finding the data from an equation itself. It makes it easy to drag the number down and have it increase by a proportional value when changing the numbers by large magnitudes. I started off at Q=10, and ended at my first Q being 100000. Im inbound |
|
Quoted:
Quoted:
<snip> Im inbound Check you inbox Will do much appreciated. I am going about this the old fashioned way. I have my x's as -0.09-3 and then my y's as 40,000. But I don't know if my y's are supposed to increase of decrease in value from 40,000 as x's decrease? |
|
Quoted:
Quoted:
Quoted:
<snip> Im inbound Check you inbox Will do much appreciated. I am going about this the old fashioned way. I have my x's as -0.09-3 and then my y's as 40,000. But I don't know if my y's are supposed to increase of decrease in value from 40,000 as x's decrease? I don't understand your question. Your demand values decrease linearly as your costs increase, and the supply values do the opposite. |
|
Quoted:
Quoted:
Quoted:
Quoted:
<snip> Im inbound Check you inbox Will do much appreciated. I am going about this the old fashioned way. I have my x's as -0.09-3 and then my y's as 40,000. But I don't know if my y's are supposed to increase of decrease in value from 40,000 as x's decrease? I don't understand your question. Your demand values decrease linearly as your costs increase, and the supply values do the opposite. Disregard I have gotten your excel with a return email. |